Source - SMW
Housebuilder Redrow has seen a slight slowdown in sales in recent weeks as a result of the political and economic uncertainty.

Despite this, for the first 18 weeks of the current financial year Redrow has traded in line with expectations.    Net private reservations in the 18 weeks to 3 November were 2% above last year at 1,548. 

The sales rate over the period was 0.67 per outlet per week, marginally below the 0.68 in the same period in the 2017 financial year. 

The average selling price of private reservations for the financial year to date is £371,000 compared with £352,000 a year earlier.

The total order book (including the company's Croydon joint venture) is currently at a record high of £1.2bn, a 3% increase on this time last year.

Net debt is currently £25m (2016: £92m) and despite a number of major land purchases is expected to be below £100m at the end of December 2017 and around £60m in June 2018. 


At 8:49am: (LON:RDW) Redrow PLC share price was -34p at 607.5p



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