February 7, 2018 / 7:17 AM / 6 months ago

UK builder Redrow's revenue rises, raises dividend

Feb 7 (Reuters) - British housebuilder Redrow Plc on Wednesday reported a 20.4 percent rise in first-half revenue and increased its interim dividend by 50 percent.

The company said revenue rose to 890 million pounds ($1.24 billion) for the six months ended Dec. 31 from 739 million pounds a year ago, helped by more home completions.

“Demand for new homes remains robust with good availability of mortgages at competitive rates,” the company said.

Redrow said it will pay an interim dividend of 9 pence per share, a 50 percent increase on last year’s interim dividend, as a result of the strong earnings and cash performance of the business. ($1 = 0.7161 pounds) (Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Amrutha Gayathri)

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