Builders hit out at bureaucratic house planning September 18, 2013 HOUSEBUILDER Redrow dismissed debate that government mortgage schemes were fuelling a housing boom and said the UK’s “bureaucratic mess” of a planning system was the main cause of the housing shortage. The government has been criticised by economists and industry players for its launch of the Help to Buy scheme in March, the first part [...]
More houses for developer Redrow September 18, 2013 British house builder Redrow has announced plans to reinstate a dividend following successful results for the first half of 2013. (Release) In the year to June, pretax profit was up 63 per cent to £70m with group revenue increasing 26 per cent to £604.8m. As a result of improved figures, Redrow's board has proposed reinstating [...]
London Report: Drop in inflation unlikely to help consumers long September 15, 2013 CONSUMERS are likely to receive a small piece of good news this week, with the inflation rate edging down for August. But the upbeat data is likely to come before more rising prices, as analysts predict consumer price inflation will reach three per cent soon. The inflation news, out tomorrow, is part of a slew [...]
Redrow signs £250m loan as it sets sights on further expansion September 11, 2013 REDROW announced yesterday it has agreed on a new and larger £250m loan with its banks, in a further sign of growing confidence in the housing market. The housebuilder said the four and a half year credit facility, which expires in March 2018, was £50m bigger than the existing facility it replaces, while costs were [...]
Redrow profits up 50 per cent February 26, 2013 HOUSEBUILDER Redrow posted a 50 per cent rise in first-half profit yesterday and said it was cautiously optimistic for the second-half as the housing market stabilises. Chairman Steve Morgan, who led a failed takeover bid for the group last year, said improvements in the mortgage market as well as a focus on margins had aided [...]
Crest Nicholson hails a jubilant market return February 13, 2013 CREST NICHOLSON made a successful return to the stock market yesterday, after the 50-year old British housebuilder completed a listing which valued it at £553m. The company, taken private by Scottish entrepreneur Tom Hunter at the height of the housing bubble in 2007, priced its shares at 220p, the upper half of its original range. [...]
Crest Nicholson plots return to London market January 21, 2013 UK HOUSEBUILDER Crest Nicholson is to return to the stock market nearly six years after it was taken private at the height of the housing market crash. The 50 year-old company, which builds homes mainly in the south of England, said it plans to raise £50m from the listing of new shares to pay down [...]
Bright signs can also be an indication of danger ahead November 12, 2012 THERE were glimmers of optimism from the housebuilders yesterday. Bovis Homes reported its average selling price up from £180,100 in 2011 to £190,000 and its operating margin expected to be 13 per cent, up from 10 per cent in 2011. Redrow and Taylor Wimpey also both backed the picture of a sector facing tough but [...]
Rebel shareholders fail to oust Redrow non-executive director November 12, 2012 A GROUP of rebel shareholders failed to oust one of Redrow’s senior non-executive directors yesterday over his handling of founder and chairman Steve Morgan’s failed attempt to take the housebuilder private. Alan Jackson saw a 24 per cent vote against his re-election at the firm’s annual meeting in Wales, after investors voiced concerns over his [...]
Housebuilders report steady trading November 12, 2012 Housebuilders Taylor Wimpey, Redrow and Bovis Homes this morning said trading remained steady, despite challenging market conditions in the UK. Taylor Wimpey said sales in the second half of this year were similar to the same period in 2011. The housebuilder added that it welcomed the government’s NewBuy scheme, and that it had generated “strong [...]