Redrow plc

Redrow plc

Company type	Public
Traded as	LSE: RDW FTSE 250 component
Industry	Housebuilding
Founded	1974
Headquarters	St David's Park, Ewloe, Flintshire, Wales
Key people	Richard Akers, (Chairman)[1] Matthew Pratt, (Group Chief Executive)
Revenue	£2,127 million (2023)[2]
Operating income	£399 million (2023)[2]
Net income	£298 million (2023)[2]
Number of employees	2,270 (2023)[2]
Website	www.redrow.co.uk

Redrow plc is one of the largest British housebuilders with a network of 12 operational divisions across the UK.^[3] It is based in Flintshire, Wales and employs 2,300 people.

The company was established in 1974 by Steve Morgan with an initial focus on civil engineering; it was not until 1982 that the business made its entry into the housebuilding sector. Redrow expanded rapidly during the mid 1980s, both geographically and in terms of business activity; by the end of the decade, it was selling in excess of 1,000 houses per year. The firm completed multiple acquisitions in the late 1980s and early 1990s, including buying Costain Homes from the Costain Group, increasing its housing ales to 2,000 per year.^[4] During 1994, having recovered from the early 1990s recession, the company was floated on the London Stock Exchange, after which Steve Morgan opted to gradually reduce his ownership stake in the business and depart the company in 2000.

The 2000s proved to be particularly turbulent for Redrow; while record profits were recorded in 2005, as the Great Recession took hold, sales roughly halved and the company incurred losses during the latter part of the decade. During 2009, Steve Morgan opted to return to Redrow, and even endeavoured to take full ownership of the company in 2012, though this ambition was unfulfilled. In the mid-2010s, the firm achieved record profits once again and recorded its 100,000th customer on 18 October 2018. One year later, Steve Morgan retired for the second time from Redrow. During the COVID-19 pandemic in the United Kingdom of the early 2000s, the company temporarily closed most of its sites and sales dipped by up to one-third.

On 7 February 2024, Barratt Developments made an agreed offer to acquire the company for £2.5 billion, which met with shareholder approval; the Competition and Markets Authority (CMA) opened an investigation into the proposed acquisition. On 22 August 2024, Barratt officially took ownership of Redrow shares; both firms continue to operate independently until final CMA approval is granted.