Redrow beats crash concerns February 17, 2011 Housebuilder Redrow defied worries of a house price crash yesterday by returning to profit, boasting to the market that its shift towards traditional family homes has paid off. The FTSE 250 firm posted a £8.5m pre-tax profit for the last six months of 2010, compared to a £8.7m loss last year, with a 15 per [...]
FTSE 100 nudges higher on oil firms but miners miss out December 14, 2010 BRITAIN’S leading share index pushed higher yesterday, led by energy stocks with BP boosted by Royal Dutch Shell bid interest talk. The FTSE 100 index ended up 30.46 points, or 0.5 per cent at 5,891.21, a closing level not seen since June 2008. “Volumes remain thin, but the FTSE keeps going up, with oils adding [...]
Housebuilder warns of mortgage famine November 4, 2010 NUMBERS of house sales will continue to drop even lower and the UK is at risk of a “mortgage famine” unless the government acts to boost the market by helping buyers to take out loans, said the housebuilder Redrow yesterday as it announced its third quarter results. “Deliberately suppressing housing demand at the very time that [...]
BEST OF THE BROKERS September 22, 2010 ATKINS Execution Noble rates the support services firm a “buy” with a fair value price of 900p. The broker says the firm’s management is confident in long-term demand for infrastructure, but adds that near-term growth prospects remain uninspiring. Execution predicts revenue of £1.54bn in 2011, a rise of 11 per cent on this year. REDROW [...]
Set your trades on firm foundations September 19, 2010 HOUSE asking prices fell again today, dropping by 1.1 per cent – that is £2,474 – over two points in the house price spread better’s mind. But those tempted by the news on page one should not rush into a trade before taking a moment to contemplate the make up of the index. Today’s figures [...]
Redrow calls for state help on mortgages September 9, 2010 THE head of housebuilder Redrow called on the government to take action over the sickly first-time buyer market in a bid to revive overall sales, after reporting better-than-expected annual results. Steve Morgan, the founder of Redrow who returned in a boardroom coup last year, described state intervention as a “no-brainer” due to low mortgage availability [...]
Redrow swings back into profit September 9, 2010 British housebuilder Redrow swung to full-year pretax profit, well ahead of analyst expectations, thanks to an overhaul of the business, higher selling prices and more home sales. The company reported a full-year pre-tax profit of £0.7m, against last year’s pre-tax loss from trading operations before exceptionals of £44.2m and a total pre-tax loss of £140.8m. [...]
Gladedale hit by £78m loss after crisis fix August 30, 2010 BRITAIN’S largest private housebuilder crashed to a £78m loss last year as a debt-for-equity swap and a group restructuring piled costs onto its struggling balance sheet. The Gladedale Group, whose projects include the luxury Quartermile housing development in Edinburgh, fell heavily into the red after a huge overhaul in the autumn that wiped out its [...]
Bellway claims housing market is back to normal and forecasts 10pc growth August 5, 2010 HOUSEBUILDER Bellway said yesterday it remains on track to increase production by 10 per cent this year, while reassuring investors that the housing market has returned to more normal conditions. The FTSE 250-listed company said it completed the sale of 4,595 homes in the year to 31 July, a rise of five per cent on [...]
Redrow April 27, 2010 NO ONE can deny that Redrow’s management team has engineered an impressive recovery. With the once moribund housing market showing signs of life, the firm says that sales rates per outlet are comfortably ahead of the same period last year. Falling prices and soaring cancellation rates are also showing signs of stabilisation. Unlike some of [...]