Housebuilder Redrow touts record order book

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Redrow is showing off its feathers, possibly burnishing its credentials as a suitor to Bovis Homes, which is mulling a merger with rival Galliford Try, the third player in this UK housebuilder love triangle.

Redrow, which has said it still wants to pursue Bovis, noted in a trading update today that its performance continues to be “robust”, with a “record order book”.

It adds:

Given the strong year-to-date performance the Board is confident that Redrow is on track to deliver at least £306 million Profit Before Tax for the financial year ending 30 June 2017, an increase of 22% compared to the prior financial year of 2016.

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