Redrow has delivered record results, for the first half of the financial year, with legal completions increasing by 14% to 2,811 and pre-tax profits up 26% to £176m.
The UK housebuilder revealed that group revenue rose 20% to a first half record of £890m with operating margin rising slightly to 19.7% (2017: 19.5%).
Earnings per share (EPS) were up 27% to 39.5p and the interim dividend was boosted to 9p per share (2017: 6p).
The company’s order book was up 5% at £1.05bn (Dec 2016: £1bn) and current land holdings were up 6% to 27,600 plots.
Commenting on the latest figures and looking forward to the second half, Steve Morgan, Chairman of Redrow, said:"Reservations in the first five weeks of the second half have been in line with the strong comparable period last year. We entered the second half with a record order book, and customer traffic and sales remain robust.”
He added: “Given the strength of both our order book and land holdings, together with the robust sales market, our growth strategy remains on track. This gives me every confidence it will be another year of significant progress for Redrow."