Overview

• Underlying pre-tax profit rose 26.8% to £488.3m as revenue increased 33.8% to £5.58bn in the 53 weeks to 29 June.
• The group completed 16,565 homes, below its 16,800–17,200 goal, and now guides 17,200–17,800 completions for 2025–26 assuming a normal autumn selling season.
• Forward orders stood at 10,350 homes on 24 August, slightly down from 10,398 a year earlier.
• Chief executive David Thomas said the extended run-up to the 26 November Budget and potential tax changes have introduced additional risk to buyer activity.
• Integration of the Redrow deal is largely complete with £69m of £100m targeted cost savings achieved, and the company is urging first-time buyer support along with planning reform.