Redrow Share Discussion Threads

[benson384] 18/10/2012 18:10

OOps....NO

[rachael777] 18/10/2012 13:15

So, are we going to get an offer above 165p by close of business today or not.....

[yewtrees] 19/9/2012 13:12

Good results. Will shareholders see any benefit?

[skinny] 19/9/2012 07:06

Financial highlights

· Group revenue increased 5.8% to £479m, driven by 15% increase in average selling prices, with private ASP up by 17% to £204,100

· Operating margin rose from 7.5% (excluding Scotland) to 10% as a result of increased sales from sites purchased since the downturn, improved product mix and the benefit of high profit on land sales and freehold reversion sales (margin was 9% excluding these one off items)

· Pre-tax profit up 70% to £43m and adjusted earnings per share up 80% to 10.8p

· Private net reservations up 4% from £416m to £434m (excluding London) due to a change in mix to larger homes and private order book up 33% to £152m

· Return on capital employed up from 6.1% to 8.7%

· NAV per share up 5% to £1.52 adjusted for the £78m share issue

· Net debt down £61.4m to £14.0m, gearing down to 2% (2011: 16%)

Operational highlights

· New Heritage Collection now firmly established as primary brand and represented 67% of private turnover during the year (2011: 35%)

· Opening of new outlets remains a priority; 82 outlets at year end (2011: 74) should increase to over 90 outlets by the end of the current financial year

· London Division commenced construction on our first two major flatted schemes, One Commercial Street in Aldgate and Kingston Riverside in Kingston upon Thames

· Landbank of 12,350 plots at the end of June 2012 (June 2011: 11,190 plots)

· Reservations in the current year are 16% ahead of the same period last year

· 5 Star Award in HBF 2012 Customer Satisfaction Survey

[yewtrees] 01/9/2012 10:50

Disappointing to be bought out, I believe the housing market to be improving and wish to get back to nearer the price I bought my shares for.

[valedo] 31/8/2012 13:40

Redrow chairman Steve Morgan in takeover approach.

Housebuilder Redrow has received a £560m takeover approach, involving the company's chairman and founder, Steve Morgan.

The approach is from three investment funds, Bridgemere Securities, which is controlled by Mr Morgan, Toscafund Asset Management and Penta Capital.

The three have made a preliminary offer of 152 pence a share.

Redrow said it had formed an independent committee of directors to look into the offer.

It urged shareholders to take no action while it was considering the bid.

The housebuilder's share price closed at 151p on Thursday, but the investment funds said their offer represented a 23.8% premium to the average share price over the past 90 days.

Mr Morgan - who owns Wolverhampton Wanderers football club - founded Redrow in 1974. He left the firm in 2000 but then returned in 2009.

[skinny] 31/8/2012 07:07

31 August 2012

Redrow plc ("Redrow" or the "Company") notes the recent announcement by Bridgemere Securities Limited ("Bridgemere"), Toscafund Asset Management LLP ("Tosca") and Penta Capital LLP ("Penta").

Redrow confirms that it received an initial approach yesterday evening (the "Approach") from Bridgemere, Tosca and Penta regarding a possible cash offer of 152 pence per Redrow share.

The Board will now establish a committee of independent directors to consider the Approach.

Shareholders are urged to take no action at this time.

This announcement is not made with the consent of Bridgemere, Tosca or Penta. There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made. A further announcement will be made in due course.

[mryesyes2] 01/5/2012 22:20

well i think the idea is that if you do not buy your holding is further diluted so it will be 80p-90p once the new underwritted shares come on line so you either sell now or pay up and wait for upticks over the next 5 or 10 years
the big lie is that boring property is selling - if you are talking used homes, dated 2 bed mid terrace built in the 90s, or small used flats these are overvalued
stick with areas with schools, stick with top SW postcodes, and regard blue collar homes as worthless assets just cash in any equity you can and go into stocks, not rdw but bgc for example
yesyes2

[haroldthegreat] 28/4/2012 07:44

i wonder how many people will buy the rights at 130 when they can buy in the market at 125?

[manrobert] 13/3/2012 13:10

builders looking good today!

[panachegrp] 02/3/2012 09:57

and because it doesn't pay a dividend?

[westcountryboy] 28/2/2012 22:49

Beacuse the PE ratio is already quite high?

[ibuyland] 28/2/2012 19:00

Does anybody know why this share doesnt go up when everything else in the sector does?

[manrobert] 31/1/2012 13:39

does anyone know the highest price Morgan has paid for the shares?

[bookbroker] 17/1/2012 08:39

I guess that they are simply waiting for that knock out bid from S. Morgan, it's been touted now for so long, that I've lost most of hair in the time the rumours were inniated, as a 30% share holder or thereabouts at some point he will have to declare his intentions

[manrobert] 01/12/2011 11:44

seems strange that mms keep hoisting offer price as if they are expecting positive news.

[what is a login ?] 09/9/2011 06:27

[e-mail] 08.09.11

Construction and housing group Redrow (RDW) achieved revenues of 452.7 million for the year ended 30th June, up 14% year-on-year, with pre tax profits of 25.3 million pounds, compared to 0.7 million pounds in the previous year. Additionally, the firm has disposed of its Scottish division, in order to focus on its core markets. The group believes it has significant prospects considering the severe under-supply of housing in the UK. The shares slipped 0.2p to 116.3p.

[tenapen] 08/9/2011 08:01

Financial Results






2011


2010

Revenue


£452.7m


£396.9m

Operating Profit


£31.2m


£12.7m

Operating Margin


6.9%


3.2%

Profit before tax


£25.3m


£0.7m

Legal Completions (homes)


2,626


2,587

Average Selling Price


£164,800


£149,300

Net Debt


£75.4m


£47.1m

Gearing


16%


11%

[tenapen] 31/8/2011 16:47

'Building' up steam for next weeks results.

And the market is bouncing up just at the right time :-)

[tenapen] 30/8/2011 10:11

BoE loan approvals for house purchase up in July
By BFN News | 09:38 AM | Tuesday 30 August, 2011

The BoE reported the number of loan approvals for house purchase (49,239) increased in July, and was higher than the previous six-month average (46,822)

[mike24] 08/2/2011 16:55

july telegragh btl's back in force pushing out first time buyers,

while barratt only offer % to p/x bellway are doing deals for downsizers
ie taking a 500k+ prop incl, cash against four flats one of which purchaser
lives in, but the rest giving 5% plus return and future cap, appreciation
17/7 high st lenders cut rates again, ray boulger argued the base rate
might not even rise next yr,
should'nt investors base the percentage return on the amount
of deposit put down less costs rather then value of prop this would
put longer term % returns y/y into double fig's
national rental returns break through 700 a month (1k average in london)

4/7/11 pension meltdown + hyperinflation, buy prop when there's blood on the streets
5/7/11 david craig how 400mln a day is being looted from your pension/savings

[brownie69] 07/12/2010 14:53

On the move now. Could breach 125p