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Solid performance from Redrow

Redrow (RDW) delivered an impressive first-half performance, pushing operating profits ahead by 51 per cent to £26.2m and boosting the return on capital employed from 6.4 per cent to 8.6 per cent. The housebuilder has recovered significantly since the return of founder Steve Morgan in 2009, and the board confirmed that dividend payments will resume at the end of this year.

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By Jonas Crosland,
26 February 2013

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