Fire safety costs dent Redrow profit

By Joey Gardiner2022-09-14T09:12:00

Firm sets aside £164m to cover remedial work

Housebuilder Redrow has reported a sharp drop in pre-tax profit as it deals with the impact of costs related to fire safety repairs to previously built apartment blocks.

The firm reported a statutory pre-tax profit of £246m for the 53 weeks to 3 July, down 22% on the £314m reported in the previous year, after taking an exceptional charge of £164m related to fire safety works.

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