First-time Buyers
Redrow revenues up on back of 15% rise in house prices
Written By:
paulajohn
Posted:
Updated:
04/07/2013
UK housebuilder Redrow has seen a 5.8% increase in revenues on the back of a 15% rise in the average selling price of its properties.
Revenue increased revenues to £479m in the year to June 30, driven by an increase in its average selling prices from £164,800 to £189,900.
Profit was up from £31.2m in 2011 to £48m, with post-tax profit climbing from £13.5m to £30.2m.
As of June the company reported a land bank of 12,350 plots awaiting construction, and reservations for properties are up 16% on the previous year.
In a statement, Redrow said that the opening of new ‘outlets’ remains a priority. Between June 2012 and june 2013 it opened 82 outlets, up from 74 a year earlier.
