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House builder Redrow reports 23% rise in profits House builder Redrow reports 23% rise in profits
(about 3 hours later)
Wales' biggest house builder Redrow has reported a rise of 23% to £250m in its pre-tax profits.Wales' biggest house builder Redrow has reported a rise of 23% to £250m in its pre-tax profits.
The company said sales were "very encouraging" after figures released on Tuesday also showed revenue rose 20%. The Flintshire-based firm said sales were "very encouraging" after figures released on Tuesday showed revenue rose 20%.
A spokesman said they were confident it would be "another year of significant progress for Redrow".A spokesman said they were confident it would be "another year of significant progress for Redrow".
Last year, chairman Steve Morgan said fewer houses may be built in Wales because of the increasing costs of regulations. Chairman Steve Morgan told the Good Morning Wales programme the business had seen "no effect" from Brexit.
He said demand for homes was "stronger than it's ever been".
However, he also reiterated comments he made last year that fewer houses may be built in Wales because of the increasing costs of regulations.