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.”

Relx has posted soaring profits and revenues.

Net profits jumped 17% to £1.69bn and revenues were up by 7% to £7.24bn. As a result, the board is suggesting a dividend payout of 49.8p per share.

Chief executive Erik Engstrom commented: “RELX delivered strong underlying revenue and profit growth in 2021,”

“We believe that this improved trajectory is a reflection of our ongoing strategy of focusing on the organic development of increasingly sophisticated analytics and decision tools that deliver enhanced value to our customers across market segments. Recent acquisitions, which have supplemented our organic growth strategy, have continued to perform well.”

A spokesperson at the group said: “Based on the improved performance in 2021 across the company, we expect 2022 full year underlying growth rates in revenue and adjusted operating profit, as well as constant currency growth in adjusted earnings per share, to remain above historical trends.”

Following strong demand in the UK and US, Watches of Switzerland has posted strong profits and revenues in the year-to-date.

Revenues hit £934.3m and there has been an impressive 38% growth in performance.

The company has plans to expand in Europe and has bought six shops in Sweden, Denmark and the Republic of Ireland. 

“I am pleased to report continued strong momentum for our Group following a successful Christmas trading period,” said Brian Duffy, the chief executive.

“We have delivered impressive growth in both luxury watches and luxury jewellery in both the UK and US markets demonstrating the value of our portfolio of world leading partner brands.”

“Strong trading to date, revised pricing by certain brands and visibility of supply for calendar 2022 all support our expectation to perform towards the top end of our full year guidance.”

The FTSE 100 rallied on Wednesday to trade above a key resistance level that capped gains in January and potentially opens the way for further gains in the index.

The FTSE 100 traded above 7,630 on Wednesday having broken through the 7,619 mark that proved a bridge too far for London’s leading index in January.

Having pushed through 7,640, the FTSE 100 traded at the highest levels since the beginning of the pandemic in a broad rally which saw most sectors gain. Technical traders will now be looking for a consolidation in the 7,620-7,630 region for the FTSE 100 to form a base for the next higher.

Notwithstanding the favourable FTSE 100 price action, investors will also take confidence from the favourable macro picture and the composition of the index.

With a strong weighting towards commodity shares, the index is shaping up to benefit from a continued rally in commodity prices.

BP and Shell have recently reported strong revenue generation on higher oil prices and with many analysts predicted $100 per barrel prices in the short term, the stage is set for a move to the upside in the oil majors.

Couple this with surging metals prices and favourable conditions for the miners, the index is set to enjoy support in the short term.

GlaxoSmithKline

Although most sectors rose on Wednesday, there was a drag in the form of GlaxoSmithKline which dipped 2% after it announced earnings for the 2021 full year. GSK’s revenue grew on 5% on a constant currency basis, but it wasn’t enough to please investors who wanted a more solid strategic outlook given the potential sale of their consumer business.

“Our experts tell us the spotlight is focused on the consumer health spin-off, set to occur mid year, following news of Unilever’s three unsuccessful bids and reported Private Equity interest.  The market eagerly awaits a more detailed strategy overview at GSK’s capital markets day in late February,” said Sebastian Skeet, Senior Analyst for healthcare sector clients at Third Bridge.

Shares in aviation company Menzies soared on Wednesday after the group rejected what it called a ‘highly opportunistic’ approach from a Kuwaiti rival.

Menzies received 510p per share cash offer which they said undervalued the company and does no reflect their propsects.

Menzies had previously rejected a 460p from Kuwaiti company National Aviation Services Holding. Menzies shares rose 36% to 456p as they unanimously rejected the bid.

“The Board of Menzies has unanimously rejected this unsolicited and highly opportunistic Proposal, which we believe does not reflect Menzies’ true intrinsic business worth or its prospects,” said Philipp Joeinig, Chairman and CEO of John Menzies plc.

“Menzies continues to make good progress with strong performance across a number of service lines, which together with productivity gains, saw the Group to finish last year strongly”

“This strong performance and momentum in 2021 has continued in 2022 with further contract wins and renewals alongside the continued recovery of global flight volumes. The Board remains fully confident in the recovery and outlook for the global aviation services industry as it returns to pre-pandemic trading levels and benefits from long term structural growth drivers. The Board believes the strong portfolio mix, positioning of Menzies and the ongoing execution of Menzies’ strategy will create significant value for shareholders in the near and medium term.”

Menzies currently has a market cap of £418m and has announced a number of new contract wins in recent months.