Redrow plc RDW has delivered another year of strong growth, record results and an excellent trading performance, with the number of new houses sold during the year rising by 9%. and the full year dividend hiked by a massive 65%. The average selling price was hiked by 7% during the year which some cynics may argue is way way above the general rate of inflation. but in the housebuilding industry with its friends in government, who cares. Group revenue rose by 16% to a record £1.92bn. Profit before tax also hit a new record with a 21% rise to £380m and earnings per share were up by 22%.
WPP plc WPP The new Chief Execuive, Mike Read, goes on the attack with an opening statement announcing the interim results and stressing that the second quarter of 2018 was WPP’s first quarter of like-for-like growth since Q1 2017.and that it has performed strongly in terms of winning and retaining business over the half year.Profit before tax rose by 8.5% or 14.2% on a constant currency basis and profit after tax by 11.3% or 16.8% . Billings on a constant currency basis rose by 4.1% and revenue by 2.9%. The interim dividend remains unchanged. at 22.7p per share.
DS Smith plc SMDS continues to be excited by its prospects and has enjoyed good like for like volume growth in all geographical sectors, in the quarter since the 1sr May. In particular the north America paper and packaging division, has performed very strongly.
Halfords Group plc HFD updates for the first 20 weeks of the current year that the trading environment remained challenging. Revenue rose by 3.9%, car maintenance leading the way with a rise of 4.5%. Guidance for the year remains unchanged.