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Redrow Plc H1 Pretax Profit Declines; Revenue Down 10% - Quick Facts

Redrow plc (RDW.L) reported profit before tax of 157 million pounds for the six months to 31 December 2019 compared to 185 million pounds, prior year, a decline of 15 percent. Earnings per share was 37.1 pence compared to 41.4 pence.

For the first-half period, Group revenue was 870 million pounds compared to 970 million pounds, last year, due to legal completions reducing to 2,554 from 2,970. First half private net reservations were up 18% to 936 million pounds.

Redrow plc stated that the market in the first five weeks of the second-half has been resilient. Private reservations in terms of value were up 15% at 180 million pounds.

The Group has declared an interim dividend of 10.5 pence, up 5% on the previous year. The interim dividend will be paid on 9 April 2020 to holders of ordinary shares on the register at the close of business on 6 March 2020.

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