Successful Redrow Integration
Completion of the majority of the Redrow integration, delivering cost synergies well ahead of target with GBP 69 million confirmed in the year and GBP 20 million crystallized in FY '25, double the previous forecast.
Strong Financial Position
The company ended the year with a strong net cash position of GBP 773 million, supporting growth and capital allocation plans, despite paying GBP 249 million in dividends and GBP 50 million on share buybacks.
Operational Achievements
Delivered 16,500 homes in a challenging market and improved return on capital employed to 10.7% from 9.5%.
Positive Customer Feedback
Achieved highest ratings of Excellent for all three brands on Trustpilot, reflecting high customer satisfaction.
Land Bank Margin Improvement
Land bank margin improved by 90 basis points to 19.2% at the end of June, with a focus on reaching a 23% gross margin hurdle rate.