Redrow - Re: RDW Stream Log - Beaufort note out this morning:...

Beaufort note out this morning: Redrow expects to deliver a strong performance in FY 2016 on account of favourable housing market conditions. Its sales remain solid, supported by an increase in completions and a rise in the average selling price of a private home. The value of private reservations remained strong, largely due to strong regional growth. Redrow has made good progress on the operational front, given it completed developments at Commercial Street and Amberley Waterfront. Its London developments, including the Croydon joint venture, have either sold in line with or beat management expectations. Redrow’s debt declined owing to higher turnover and better payment terms on land purchases. The initial impact of Brexit on the company has been minimal, with underlying demand for its homes appearing at this time capable of delivering long-term growth. Taken from research Tree