LONDON (dpa-AFX) - British house builder Redrow Plc (RDW.L) reported Thursday that its first-half profit before tax was 198 million pounds, down from last year's 203 million pounds.
Earnings per share for the first half was 45.4 pence, compared to 48.1 pence last year.
Revenue declined to 1.03 billion pounds from 1.05 billion pounds a year ago.
Total order book was 1.1 billion pounds, down from prior year's 1.5 billion pounds. Total home legal completions in the first half were 2,485 units, lower than previous year's 2,749 units.
Further, the Board has declared an interim dividend of 10 pence per share, in line with the prior year, to be paid on April 6 to shareholders on the register at the close of business on February 24.
Looking ahead for fiscal 2023, the company projects underlying earnings per share of 84 pence.
Further, the company now expects revenue for 2023 to be approximately 2.05 billion, with an operating margin in the region of 18 percent to 18.5 percent.
The company previously expected revenues of 2.1 billion pounds, with an operating margin of 18 percent.
Redrow projects full year dividend of 28 pence per share.
Due to the recent change in market conditions, the Company has withdrawn its guidance for 2024.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX