Redrow’s group revenue rose to a record £739 million in 2016 – a rise of 23%. The housebuilder recorded pre-tax profits at a record £140 million, up 35% on the same period last year.
Legal completions were up 13% to 2,459, compared with 2,178 in 2016. Redrow reported its private order book was up 35% at £897 million. Its current landbank is up 18% to 25,300 plots.
Steve Morgan, Chairman of Redrow, said, “At the beginning of February we purchased Radleigh Homes a regional housebuilder based in the East Midlands. Radleigh is an excellent fit given its geographical location and high quality market position. Radleigh will form the basis of a new division for the Group.
We entered the second half with a record order book, and customer traffic and sales remain robust. Given the strength of our sales position and land holdings our growth strategy is firmly on track, giving me every confidence this will be another year of significant progress for Redrow.”