Redrow Says Home Turnover For 19 Weeks 4% Down From Exceptional Level Last Year

Redrow Plc (RDW.L) on Friday said its homes turnover for the 19 weeks to 5 November was at 666 million pounds, 4% below the exceptional level of 690 million pounds it recorded last year.

The value of net private reservations in the 19 weeks to 5 November 2021 increased 2% year-over-year at 672 million pounds.

The company said its total forward order book is a record at 1.51 billion pounds compared with 1.48 billion pounds last year.

Looking forward, the company expects its turnover for 2022 to be about 2.1 billion pounds, based on the strength of its order book, ongoing sales rates and the increase in private average selling prices.

"As a result of our strategy to grow the business outside London, with a strong focus on our industry leading product and placemaking, we expect to deliver results in the 2022 financial year approaching those achieved in 2019," Redrow said.

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