Redrow profits rise 16%

The Redrow order book has reached £1.5bn and profits grew 16.6%.

The group posted record revenues of £1.052bn for the 27 weeks to 2 January. Redrow’s interim dividend increased by 4p to 10p.

Matthew Pratt, the group’s chief executive, said: “We have capitalised on strong demand, improved sales margins and continued to invest for growth.”

“The value of our first half reservations was £884m, an increase of 6 per cent on the same period last year (2021: £836m), and our total order book increased to £1.5bn (2021: £1.3bn), leaving us well placed for the future.”