Redrow Full Year Results - Willu Invest


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    Redrow Full Year Results

    Full year results stated:

    Profit before tax rose 26% to £315m, above the “at least £306m” guided to in March.
    ROCE has risen from 23.7% to 26% and the full-year dividend has been increased 70% to 17p.
    Driver of the profit growth was a 15% rise in completions.
    7% growth in the average sales price and the EBIT margin progressing 50bp to 19.4%.
    Net debt at period end was £73m (2016: £139m)
    Redrow has also released new longer term guidance, that it expects revenue of £2.2bn, PBT of £430m and a dividend of 32p in 2020.

    As of 8:06 the stock was trading up c.3.15% at c.639.50p

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