Edition:
United States

Redrow PLC (RDW.L)

RDW.L on London Stock Exchange

572.00GBp
11:56am EDT
Change (% chg)

-3.50 (-0.61%)
Prev Close
575.50
Open
570.00
Day's High
579.00
Day's Low
569.00
Volume
986,109
Avg. Vol
899,381
52-wk High
673.50
52-wk Low
513.50

Latest Key Developments (Source: Significant Developments)

Redrow Says H1 Pretax Profit Rose 26 Percent
Wednesday, 7 Feb 2018 02:00am EST 

Feb 7 (Reuters) - Redrow Plc ::H1 PRETAX PROFIT ROSE 26 PERCENT TO 176 MILLION STG.H1 REVENUE ROSE 20 PERCENT TO 890 MILLION STG.INTERIM DIVIDEND UP 50 PERCENT TO 9 PENCEPER SHARE.HY ‍NET DEBT OF £35M (JUNE 2017: £73M) GIVING GEARING OF 3%​.HY LEGAL COMPLETIONS INCREASING BY 14% TO 2,811​.‍RESERVATIONS IN FIRST FIVE WEEKS OF SECOND HALF HAVE BEEN IN LINE WITH STRONG COMPARABLE PERIOD LAST YEAR​.‍ENTERED SECOND HALF WITH A RECORD ORDER BOOK, AND CUSTOMER TRAFFIC AND SALES REMAIN ROBUS​.‍BOARD HAS DECIDED TO PAY AN INTERIM DIVIDEND OF 9P PER SHARE, A 50% INCREASE ON LAST YEAR'S INTERIM DIVIDEND.​.‍WE ENTERED SECOND HALF OF CURRENT YEAR WITH AN ORDER BOOK COMFORTABLY IN EXCESS OF £1BN.​.  Full Article

Bookrunner says 25.9 million shares to be place via accelerated bookbuild in Redrow
Monday, 11 Sep 2017 11:55am EDT 

Sept 11 (Reuters) - Block Trade - Redrow Plc ::ACCELERATED BOOKBUILD OFFERING OF APPROXIMATELY 25.9 MILLION EXISTING ORDINARY SHARES IN REDROW PLC.BOOKRUNNER SAYS PLACING REPRESENTS APPROXIMATELY 7 % OF REDROW'S ISSUED SHARE CAPITAL.BOOKRUNNER SAYS FOLLOWING PLACING, STEVE MORGAN AND CLOSELY ASSOCIATED VEHICLES WILL CONTINUE TO HOLD C.33% OF SHARE CAPITAL OF REDROW.  Full Article

Redrow sees "compelling" value in merger with Bovis after bid was rebuffed
Monday, 13 Mar 2017 03:12am EDT 

Redrow Plc : The Board of Redrow confirms that Redrow made an initial approach to the Board of Bovis on 27 February 2017, when Bovis' share price was at £7.74, and subsequently made a merger proposal. . The Proposal consisted of £1.25 per Bovis share in cash and 1.32 new Redrow shares in exchange for each Bovis share, representing a value of £6.59 per Bovis share based on the Redrow share price of £4.99 as at 10 March 2017. . Bovis shareholders on the register on 24 March 2017 would remain entitled to receive the final dividend of £0.30 per share in respect of the period ended 31 December 2016, as announced by Bovis on 20 February 2017. . The total value of the Proposal would therefore be £8.14 per Bovis share. . Redrow continues to believe potential combination with Bovis offers a compelling opportunity to create a combined business with scale and operational strength . The potential combination would offer a balanced geographic mix of revenue, including a complementary current land bank and forward land bank mix. .There can be no certainty that any offer will ultimately be made for Bovis.  Full Article

Bovis Homes Group updates on possible offer
Monday, 13 Mar 2017 03:00am EDT 

Bovis Homes Group Plc : Statement regarding possible offer . Recently received written proposals from Redrow Plc and Galliford Try Plc outlining potential merger proposals . Redrow proposed a share and cash transaction for company . Galliford try proposed an all-share transaction for company . Board will continue to consider all strategic alternatives .Discussions with Galliford Try are ongoing.  Full Article

Builder Redrow posts H1 profit rise, sees further growth ahead
Wednesday, 8 Feb 2017 02:05am EST 

Redrow Plc : Legal completions (incl. jv) 2,459 . Revenue £739m . H1 profit before tax £140m up 35 percent . Medium term guidance updated with 2019 turnover of £1.9bn, operating margin of 19.5% and eps of 77p . Legal completions rose 13% to 2,459 (2016: 2,178), including our croydon joint venture . Private order book up 35% at £897m (dec 2015: £664m) . In last six months legal completions increased by 13% to 2,459 adding to country's much needed supply of new homes. . Given strength of our sales position and land holdings our growth strategy is firmly on track, giving me every confidence this will be another year of significant progress for redrow .We entered second half with a record order book, and customer traffic and sales remain robust..  Full Article

UPDATE 2-Housebuilder Redrow says demand robust despite Brexit, profit jumps

* Says Help to Buy scheme should not be cancelled (Adds CEO comments, details)