Housebuilder says it is focusing on London and South East

Redrow has put its Scottish business up for sale as it targets continued growth in London and the South East.

The housebuilder expects to complete the sale 鈥渋n the coming months鈥�, it said in a trading update to the City this morning.

The firm also reported positive trading figures for the start of the year, with both its private order book and average sales price up on the same period last year.

Real-time Share Price
Real-time Share Price 

Redrow said in its statement: 鈥淥ur private order book at 17 April stood at 拢139m, 6% up on this time last year (2010: 拢131m). 

鈥淎s a consequence, despite a slow first half, we expect legal completions for the full year to be marginally ahead of last year.鈥�

Redrow will issue an Information Memorandum to interested parties in its Scottish business shortly.

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