Redrow chairman Robert Jones has outlined the firm’s plans to protect margins in 2006 as slower market conditions are expected to continue. Speaking at the plc’s AGM, Jones said: “The market has remained competitive with incentives continuing to be widely promoted within the industry and Redrow has maintained its focus on the protection of margin to maximise the value derived from its landbank. Redrow’s strong forward sales position at June 2005 has been supported by our sales performance in the new financial year with both reservations and sales outlets approximately 10% higher than in the same period last year.” Jones added: “The Group has already sold over 90% of its anticipated legal completions [for the In the City brand] for the year to June 2006. As previously indicated, legal completions from In the City will be lower in number than in the last financial year and the average selling price will also be below last year reflecting geographical mix.” Redrow’s Debut low cost housing range is selling well. Following its launch in Rugby earlier this year, a second scheme at Buckshaw Village in Chorley was released and a third is to follow, at Castle Vale in Birmingham.