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Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO
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Latest Share Chat

BUZZ-Redrow: strong H1 numbers help lift sector to record high

Wed, 11th Feb 2015 09:46

** More encouraging results from UK homebuilders with Redrow poised for biggest one-day move since late 2010 afterunveiling a 92 pct rise in H1 pretax profits, a doubling of itsdivi & a reduction in net debt

** Thomson Reuters UK Homebuilding index,up 2.2 pct, & bluechip Persimmon both hit all-time highs

** Redrow issues robust outlook detailing strong demand fornew homes in spring selling, albeit at early stage of season

** Stock jumps 10 pct, second-top FTSE 250 riser &hitting levels not seen since April in heavy volumes

** Panmure Gordon hikes TP for stock to 328p vs 324p

** Blue chips Barratt Developments & Taylor Wimpey up 1.3-2.4 pct & midcap Bellway 2.4 pct firmer

** Rally in UK homebuilders comes even as the country's topmarket - London - has seen home prices under pressure recently

(RM: tricia.wright1.thomsonreuters.com@reuters.net)

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