Housebuilder Redrow has warned that Brexit uncertainty has started to eat into its sales, even as it posted record half year profits. Housebuilder Redrow has warned that Brexit uncertainty has started to eat into its sales, even as it posted record half year profits. However, Redrow said that sales were “negatively affected” towards the end of the calendar year as a result of the “political uncertainty surrounding Brexit” and the effect of high stamp duty tax. Outgoing chairman Steve Morgan said: “The market during the run-up to the festive period and the first two weeks of 2019 was subdued by macroeconomic and political uncertainty. He has been chairman of Redrow for two stints – the first from 1974 to 2000, and then since 2009.

Source: Irish Independent February 06, 2019 08:26 UTC