Redrow

Ticker RDW

Today's data summary

Market open
% change
+0.65%
Price Pence
775.00
Change
+5.00
As of 13:35 17 Jan 2020
Market cap. Pound sterling
2,729.48 million
As of 13:35 17 Jan 2020

Latest updates

Pay row at Redrow

redrow sign
Getty Images

There has been a row over pay at housebuilder Redrow.

Nearly a third of shareholders (30.39%) voted against its remuneration report at the annual general meeting - and also against the re-appointment of executive chairman John Tutte to the board (31.38%)

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
BBC

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."