Redrow increases its 2018 interim dividend by 50%

Redrow 2018 interim results

·   Group revenue rose 20% to a first half record of £890m

·   Operating margin rose to 19.7% (2017: 19.5%)

·   Record first half pre-tax profit of £176m, up 26%

·   Earnings per share (EPS) up 27% to 39.5p

·   Return on capital employed of 25% (2017: 23%)

·   Net debt of £35m (June 2017: £73m) giving gearing of 3% (June 2017: 6%)

·   Interim dividend of 9p per share (2017: 6p)