<p>Redrow has reported a surge in profit and revenue for the year to June on the back of the success of the firm's New Heritage Collection range.</p> <p>Operating profit rose to £31.2 million for the year from £12.7 million last year on revenue of £452.7 million (2010: £396.9 million). Legal completions increased to 2,626 from 2,587. </p> <p>The New Heritage Collection made up 41% of private turnover in the second half of the year and more than 50% by value.</p> <p>Chairman Steve Morgan said: "Through decisive management action, particularly the introduction of the New Heritage Collection, we have been able to increase average sellng prices and margins by changing mix and keeping costs under control.</p> <p>"The outlook for the industry remains challenging due to the lack of mortgages. With five new jobs being created for every new home built, it is strongly in our country's interest to resolve the mortgage issue," he said.</p> <p>Morgan added that he was confident Redrow will make further progress during this year.</p>