Redrow' s (RDW) full-year results to June provided further evidence of the rude health of the housebuilding sector, delivering record profits and a doubling of the final dividend to 4p.
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Turnover breached the £1bn mark for the first time ever, with houses sold up 12 per cent to over 4,000. The return on capital employed was up from 18 per cent to 22.8 per cent, while margins at the operating level rose from 15.9 per cent to 18.5 per cent, exceeding its 2017 target of 18 per cent two years ahead of schedule.