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House builder Redrow upgraded its annual guidance, thanks to a recovery in sales rates and home completions.
Revenue for the year to 27 June was now expected at around £1.94 billion, up from £1.34 billion year-on-year, but down from £2.11 billion in 2019.
Operating margin was seen improving to in excess of 15.5%, up from 11.1% in 2020, but down from 19.5% in 2019.
Legal completions jumped to 5,620, up from 4,032 in 2020 but down from 6,443 in 2019.
Reservations per outlet per week for the financial year amounted to 0.70, up from 0.67 in 2020 and 0.63 in 2019, and the revenue per outlet per week was £288,000, up from £259,000 and £246,000.
'The group has entered the 2022 financial year with a very strong order book and the sales market remains robust,' Redrow said.
Consequently it said it expected 2022 revenue to be above £2 billion with a further improvement in its operating margin to around 18%.