Ticker RDW

Today's data summary

Market closed
% change
Price Pence
As of 18:58 22 Feb 2019
Market cap. Pound sterling
2,179.97 million
As of 18:58 22 Feb 2019

Latest updates

Aerial footage captures Barrington chimney demolition
The moment 56m (184ft) chimney topples to the ground is captured from above.

Redrow founder steps down

Steve Morgan, the chairman of Redrow

Steve Morgan, the chairman of Redrow who founded the housebuilder 44 years ago, is stepping down.

Mr Morgan, who rejoined the company in 2009 during the financial crisis when a number of property groups were struggling, will be succeeded by chief executive John Tutte.

Mr Morgan said that he remain as a major shareholder in the group.

Redrow Homes builds on profits

Redrow housing development
Getty Images

UK homebuilder Redrow has seen profits rise by a fifth - meaning record profits for the fifth year in a row.

In its full year statement for 2017-18, pre-tax profit rose 21% to £380m. Revenues stood at £1.92bn.

Redrow welcomed the "excellent" performance but noted that "clarity over Brexit and the future of Help to Buy would improve market sentiment."