10th Nov 2015 08:10
LONDON (Alliance News) - Housebuilder Redrow PLC on Tuesday said its positive sales trend has continued in the first quarter and that it remains confident of making progress in the current financial year.
Redrow Chairman Steve Morgan, in a statement to be given at its annual general meeting, said net private reservations are 28% ahead year-on-year in the first few months of its current financial year to June 2016.
It sales rate for the 19 weeks to November 6 is 0.68 per outlet per week, up 5.0% year-on-year, while the group's average selling price is GBP334,000, up 18% year-on-year thanks to better quality outlets coming on stream and replacing lower-price sites, Morgan said.
"With this strong sales performance, I am confident this will be another year of significant progress for Redrow," he added
Shares in Redrow were up 1.8% to 450.6 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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