Redrow Share Discussion Threads

[the_equaliser] 08/2/2017 07:41

CEO on Bloomberg for RDW
Confident as last time he was on

No impact from currency
built in to mortgage appeovals, no issue as salary
planning permission to be reduced from 3 yrs to 2 yrs

[the_equaliser] 08/2/2017 07:33

07:07 Redrow PLC (RDW) Redrow hikes H1 pretax profit by 35%

Well i dont want to say i told you so
;o)

Best results from house builder yet maybe

Group revenue rose 23% to a first half record of £739m
· Homes revenue increased 26% to a first half record of £733m
· Gross margin rose to 25% (2016: 24.2%); operating margin of 19.5% (2016: 18.2%)
· Record first half pre-tax profit of £140m, up 35%
· Earnings per share (EPS) up 35% to 31p
· Return on capital employed of 24% (2016: 21%)
· Net debt of £56m (June 2016: £139m) giving gearing of 5% (June 2016: 14%)
· Interim dividend of 6p per share (2016: 4p)
· Medium term guidance updated with 2019 turnover of £1.9bn, operating margin of 19.5% and EPS of 77p

Operational highlights
· Legal completions rose 13% to 2,459 (2016: 2,178), including our Croydon Joint Venture
· Average number of outlets increased to 122 (2016: 121)
· Private order book up 35% at £897m (Dec 2015: £664m)
· Current land bank up 18% to 25,300 plots (Dec 2015: 21,435)
· Acquisition of Radleigh Homes an East Midlands housebuilder in February 2017, which has 1,300 plots with planning and a further 1,200 plots under options in its strategic land pipeline

Steve Morgan, Chairman of Redrow, said
"Redrow delivered a robust performance in the first half, producing another set of record results. In the last six months legal completions increased by 13% to 2,459 adding to the country's much needed supply of new homes.

At the beginning of February we purchased Radleigh Homes a regional housebuilder based in the East Midlands. Radleigh is an excellent fit given its geographical location and high quality market position. Radleigh will form the basis of a new division for the Group.

We entered the second half with a record order book, and customer traffic and sales remain robust.

[the_equaliser] 07/2/2017 09:02

The new housing strategy for England includes forcing councils to plan for their local housing needs and giving them powers to pressure developers to start building on land they own.


The government says at least 250,000 new homes are needed each year and local councils and developers need to "get real" to the scale of the challenge.

Reducing the time allowed between planning permission and the start of building from three to two years

[the_equaliser] 07/2/2017 08:38

Parlimets white paper to ease on house constructions
Based on Redrows last CEO's comments on Bloomberg
I see good results
Belway, announced well today

[the_equaliser] 05/2/2017 21:24

SP for 4 days
444.5 450.4 448.9 457

trade volume for 4 days
Date Buy Vol Sell Vol Total Vol
03/02/2017 122,810 456,712 579,522
02/02/2017 459,464 317,167 776,631
01/02/2017 522,962 438,100 961,062
31/01/2017 559,373 330,768 890,141
30/01/2017 265,281 287,627 552,908

Note low trade volume yet best share price rise on Friday,
I,m guessing someone possibly stake building
03-02-17 16:35:06 457.00 172,530

[the_equaliser] 03/2/2017 12:14

I remember seeing RDW CEO on bloomberg, saying what slow down due to Brexit (in not so many words) I visited an area RDW building houses, all £500k nortwards.All selling really well, (due to good schools near by)

[le4r] 11/11/2016 07:48

Home sales booming four months after Brexit, Redrow (RDW) boss says.

[bahiflyer] 11/9/2016 09:36

Think i'd rather listen to the company than some spotty faced scribbler in a pin stripe just out of uni.
The very top analyst estimate for the year just gone was £240M and that got beat easily.
Net migration into the UK might slow but it will never reverse. Not while there are problems in the rest of the world and the UK is seen as a safe and just country. Plus we will always need migrant workers and people have been coming to this tiny country long before we joined the EU so leaving wont be any different and we wont be growing any more land so prices will only go up with the exception of the occasional timely correction.
So for me the company statement is more pertinent.

Redrow entered the new financial year with a record private forward order book of GBP807m, up 54% on the previous year; including Social Housing, the total forward order book is GBP897m, up 51%. Sales in the first 10 weeks are very encouraging and up 8% on a strong comparator last year.

We have recently launched a number of significant new sites and have a strong pipeline in the planning process. Our strategy is to continue to grow the business, increasing the number of outlets and hence the number of homes we build. This process is on track and as such I am confident that this will be another year of significant progress for Redrow.

Steve Morgan

Chairman

[gp1948] 07/9/2016 13:22

I agree that the final results presented yesterday were excellent, but the longer term effects of Brexit are still, as yet, unknown. This applies to the whole sector, not just Redrow.
Analysts' estimates of EPS for the year ending June 2017 have been cut by over 20% compared to three months ago and the figures for year ending June 2018 have been trimmed by nearly 30%. Not the rosy outlook it once was, but perhaps the analysts are being too pessimistic? Time will tell.

[adamb1978] 06/9/2016 21:51

Excellent interims this morning and this still trades on an utterly derisory multiple. Huge increase in dividend also reflects the confidence of the Board and nice to see the clear statement that the referendum has had zero impact. The whole sector is undervalued, including RDW. It also feels to me that there could well be further consolidation in this sector, and I'd expect RDW to be one of the targets

[bookbroker] 06/9/2016 07:35

God alone knows who their average customer is, av. selling price 288K, certainly not a first time buyer, elderly people downsizing to all inclusive mod cons, or the people moving up the chain! Housing more and more unaffordable, it's going to have to be Agadir for me!

[bahiflyer] 06/9/2016 07:20

Very robust set of results considering the Brexit doom and gloomers.
Another misunderstood house builder.
I dont think the markets realise this country still needs more houses.

[excell1] 18/8/2016 10:29

Pound strengthens after retail sales surge in July.

[excell1] 08/8/2016 15:03

Just got to get through this £3.50 psychological barrier convincingly, then we are away.

[excell1] 26/7/2016 10:37

Other housebuilders doing very well.I can't see Redrow being any different.

[excell1] 18/7/2016 14:40

Again thanks Dave for posting.A good tip on Redrow.
Copy and paste into your browser and as you say join up the i's.

[davebowler] 18/7/2016 14:06

ii.co.uk/articles/337885/six-top-share-picks-29-upside
Just move the i's together and all will be revealed!

[excell1] 14/7/2016 18:53

Thanks for that Dave.Interesting.

[dlku] 11/7/2016 08:23

time top bail?

[cordwainer] 11/7/2016 08:20

I doubt bank shares would enjoy a rate cut from current level..?

[tsmith2] 08/7/2016 11:30

Monday - interest rate cut? Carney will want to be sent to be acting swiftly..Banks shares will bounce nicely tooLloyds

[dlku] 07/7/2016 09:01

400p looks on target

[tsmith2] 07/7/2016 08:30

Good to see some director buying

[essentialinvestor] 06/7/2016 16:47

Just looking at the YTD and 1 year SP, looks about in line with many in
the sector, so tsmith agree, whether the major sector sell off is justified
remains to be seen.