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Redrow Share Price Little Moved As Director Steps Down From Board

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Updated: 31 July 2020

Redrow plc (LON:RDW) has announced that its Non-Executive Director, Vanda Murray OBE will retire from the board following the close of its Annual General Meeting (AGM) on the 6th of November 2020, while also issuing a trading update on Thursday. 

The company said that due to her work commitments, Murray has decided to step down, and following the close of the AGM, Nicky Dulieu will become Chair of the Remuneration Committee. 

Its share price was little moved after the announcement, falling slightly and currently trading at 438.6p, down -0.38% at 11:22 am BST.

Redrow also provided a trading update on Thursday saying that the Group has commenced a ‘phased return’ to construction and began reopening its sales offices on the 18th of May 2020 with 113 sales offices open. 

They also stated that none of its workforce is furloughed and it will not be utilising the UK governments job retention scheme and will be returning all payments it received under the program. 

The Group said that it completed 4,032 homes up until the end of June compared to 6,443 the previous year and its turnover is expected to be £1.34 billion compared with last years £2.11 billion.

Finally, Redrow stated that they are ideally positioned to meet changing customer priorities, such as living closer to greener spaces and having better home workspaces.