Redrow ceo shows “confidence” in market

Feb. 9, 2023
<p>Redrow has seen its sales improving “week on week” from the lows seen in the final months of 2022, with ceo Matthew Pratt stating the business was “happy” with the improvement while noting it was “early days”.</p> <p>Speaking to <i>Housebuilder </i>about the company’s half year results and current trading, Pratt struck a positive tone, although Redrow’s revenue and profit for the six months to January 1 2023 had dipped. Redrow was “getting the visitors we want – we feel confident”. </p> <p>At the same time, sales rates were down on the comparable period last year. Pratt pointed out that the start of 2022 had been “incredibly strong”. Last year, the business was “selling well beyond” what was “realistic", he commented.</p> <p>Pratt noted a “more positive attitude” with the economic and political landscape "quietening down" following the turmoil of the Autumn. “With mortgage rates we’re confident; some rates are starting to drift south of 4%.” At the same time, he conceded he would “like to see sales rates go up”.</p> <p>The housebuilder said in its results statement that during the second quarter of its financial year, “the new homes market found itself in the eye of the storm”. As a result, …

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