Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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I concur SP increase due to share buyback. I’m holding out on more share purchases at the moment, I think there is more of a dip due heading into Q3, but that’s just my guess.
Share buy back announced today- hooray!
Hi Giraffe - Have a look at this website (you get a limited number of views for free). The sections on valuation and financial health are particularly interesting for Redrow!
https://simplywall.st/stocks/gb/consumer-durables/lse-rdw/redrow-shares
Such a joy to see the rise, although I don’t know why. The note from marquess May be a cause or perhaps we finally reached the bottom of this slump. What I do know is with the rest of the market falling off a cliff, RDW is climbing and long May it continue. I don’t pretend to be an expert on all the house building shares and couldn’t say with authority which one to go for. I chose RDW because of the love p/e, favourable comments across social media, decent dividend rise, room to grow and popped into one their building sites where I was suitable impressed. Perhaps our new PM has a stamp duty cut in mind? Something is happening somewhere and if you take a look back on this board long enough you will find plenty of director buys at 6.30. Let’s hope it gets back there in time, but for now I am happy = all views welcome. GLA
Missed this update, but it looks like progress continues on the Southern Division office. News story posted on the 24/05/22. Go live date is 'July'. Target remains at 600 homes PA.
Link - https://www.redrowplc.co.uk/news/latest-news/corporate/redrow-southern-debuts-a-better-way-to-work-with-first-look-at-new-divisional-office/
Bought £25k
Cheers both. Mine came in today (Trading 212)
Yep.HL
Yep, both from HL and Freetrade
Has anybody received their dividend yet?
Sorry not inflation I meant interest rate rises.
Inflation and mass unemployment is the killer combo for house prices and can't see that happening anytime soon looking at the healthy state of jobs market.People make cut backs everywhere else to buy their dream home.SP will steadily start to rise as we get nearer to Divi announcements.
But a vast amount of bad news already factored into the share price. Now trading under NAV and at 15 month low.
Gove is blustering, a deal will be done.
Inflation yes but this is a concern for all equities. Right now house builders still have pricing power .
They seem cheap and house builders in general but you have Gove to think about and more important inflation.Builders seems to be coping with inflation with higher selling prices but what if house prices take a turn that will eat in to profits very quickly.Houses keep going up are not a given I still see more down side to come.
Not to my knowledge. Just H1 and FY.
Are there quarterly updates?
Greetings all.
I have been re-reviewing the HY financial report, as I am considering increasing my position in RDW. One point of interest that I had not noticed before was the startup of a Southern Division.
Source - 2022 Half Year Report (Pg. 4) https://investors.redrowplc.co.uk/sites/redrow-ir/files/investor/reports-and-presentations/2022/redrow-half-yearly-report-2022.pdf
'We have appointed the leadership team for our new Southern division, which will open this summer and is currently acquiring its first sites. '
A quick Google search turns up the following news element from Redrow posted last year
Source - https://www.redrow.co.uk/newsroom/national/2021/6/redrow-launches-new-southern-division
'Covering Surrey and East and West Sussex, the new Southern division will sit separately to our existing Southern Counties and South East divisions and will be headed up by recently appointed Managing Director, Rod Martin, former Divisional Managing Director at Taylor Wimpey for this area. At maturity, the new division aims to build 600 new homes, annually, ...'
Depending on how quickly they can reach maturity, that equates to another 10% extra annual completions, and given the higher than average cost of house prices in the area, this may have a more pronounced effect on the average completion price for RDW overall.
A good bit of news in my book. Helping to counterbalance some of the risks of inflation / stagflation.
Recently in here.Always surprised by Sp's dropping before ex divi.Like to think Putin proof share.
Rationale behind 5.50 is using same percentage drop from last ex div, including the fact that this div has been increased
Hi everyone
I read everywhere that this is the bargain of the century. Great P/E ratio, increased dividend, money set aside for cladding, government supporting new homes being built….
Yet it has dropped and dropped, probably because of Mr Gove’s recent comments
Anyway, yes, I firmly believe it is a true bargain, but with exdiv almost minutes away, am trying to guess where the bottom will be
My guess is 550
Comments most welcome from all
Just as a follow up, the extract below is taken from the 2022 Half Year results (posted 10/02/2022)
As we are predominantly a builder of family detached houses, we have only developed a relatively small number
of high rise apartment schemes. However, as a consequence of the widening in scope of buildings concerned and more detailed cost estimates for the work required, we have increased our fire safety provision by £10m to £36m. This provision is for the estimated remediation of buildings for which we are the Principal Contractor. The level of this provision will be reassessed as work progresses, Government legislation or regulation changes as a result of the above announcement or if the Group makes any further commitments with respect to this matter. We do believe the whole industry should play its part in tackling the cladding issue but in a fair and proportionate way.
Screaming buy at this level imv.
*with
Seem good results. Should be 700p+ even wish future cladding issue
Expected today - divi up 66% ! Above expectations for full year!