Redrow PLC - AGM Statement
ANNUAL GENERAL MEETING
At today's AGM John Tutte, Chairman, will say:
"For the first 18 weeks of the current financial year, trading has remained encouragingly resilient despite ongoing Brexit uncertainty and relatively weak demand in the wider housing market.
The value of net private reservations in the first 18 weeks to 1st November, excluding a
The average selling price of private reservations for the first 18 weeks was virtually the same as last year (excluding the PRS sale) at
Outlet growth continues to be affected by planning delays and the cautious approach to land acquisition we have adopted during this unceasing period of economic and political uncertainty. The Group is currently operating from 128 outlets (2019: 129). However, we remain on-track to operate from an average of 131 outlets this financial year.
As highlighted in September, the combination of constrained outlet growth and the timing of block completions in
Our balance sheet remains strong with net debt currently standing at
The further uncertainty created by the General Election and the impact this will have on the terms of the
We are also pleased to have announced today the appointment of
I am confident that, providing trading conditions remain stable, Redrow is on course to achieve another set of excellent results."
Mark Garraway 07771 860 938
James Gray 07583 936 031
The next scheduled trading update will be the interim results for the six months ending
3.1 Additional regulated information required to be disclosed under the laws of a Member State
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