Housebuilder reports strong performance with profit set to beat expectations

Housebuilder Redrow has said a strong performance, with revenue up 26%, is expected to see it post profit higher than analysts鈥� expectations.

In a trading update for the year to 30 June 2013, the firm said group revenue rose 26% to 拢604m,

The update, which comes ahead of its full results announcement on 18 September, said the number of homes completed rose 15% to 2,827, of which 2,474 were private homes 鈥� up from 2,126 the previous year.

The firm said the average selling price of private homes was 拢227,300, up from 拢204,100 the previous year.

The firm said that following the higher revenue, profit is expected to come in at more than the 拢61m analysts expected.

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