CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Redrow (RDW) says 2022 results near pre-Covid-19 performance

By Adrian Holliday

10:40, 12 November 2021

Aerial view of a Redrow housing estate in Rainham, Kent
Aerial view of a Redrow housing estate in Rainham, Kent – Photo: Shutterstock

Housebuilder Redrow says its 2022 results should come close to pre-pandemic performance levels thanks to a still-robust housing market. Redrow’s stock moved 2.42% higher this morning in London – up almost 20% in the past 12 months – to £6.42.

“We entered the new financial year with a robust housing market and trading has remained strong,” chairman Richard Akers will tell shareholders later today at Redrow’s annual general meeting.

Net private reservations in the 19 weeks to 5 November 2021 were 2% above the year before at £672m (2021: £658m), Redrow said. 

“The private revenue per outlet per week was £309,000 compared to £298,000 last year. Reservations per outlet per week for the period were a more normal 0.68 compared to the unusually high 0.75 last year,” said Redrow.

A strong order book and an increase in private average selling prices means Redrow expects turnover for 2022 to be around £2.1bn, twinned to a 19% operating margin. It estimates overall build cost inflation will be around 5% this year.

Redrow said that the UK gvernment’s Help-to-Buy initiative accounted for just 9% of private reservations in the period.


15,706.20 Price
-1.810% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8


41,419.55 Price
+3.910% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Oil - Crude

74.06 Price
-0.770% 1D Chg, %
Long position overnight fee -0.0137%
Short position overnight fee -0.0082%
Overnight fee time 22:00 (UTC)
Spread 0.030


0.62 Price
-1.050% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Housing market immunised, still?

The UK housing market has proved immune from Covid-19 stresses due to greater demand for more spacious properties as higher numbers of people have worked from home. Redrow said its selling price for its Heritage range was 14% higher than last year, with prices leaping from £398,000 to £453,000. 

Despite “well publicised material shortages and supply interruptions facing the industry,” Redrow said, “we are working successfully with our longstanding supply partners to ensure build output remains at normal levels”. 

However as supply chain issues persist, pressure for steel, bricks and other building essentials aren’t going away – an industry-wide problem. Delay worries still persist at the edges.   

Redrow’s Sir Michael Lyons steps down from the board today after almost seven years service.

Read more: Redrow expects turnover to be almost £2bn this year

Markets in this article

5.485 USD
0.03 +0.560%
5.485 USD
0.03 +0.560%

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading