Town marina helps build profits

NEW homes in Ipswich have helped the Redrow group make more than £100 million profit before tax, the company announced today.Redrow Homes, a section of the Essex-based group which has completed a 37-apartment complex, IP Central in Star Lane and is currently building Neptune Marina on the town's historic waterfront, today published its preliminary results for the 12 months to June 30.

NEW homes in Ipswich have helped the Redrow group make more than £100 million profit before tax, the company announced today.

Redrow Homes, a section of the Essex-based group which has completed a 37-apartment complex, IP Central in Star Lane and is currently building Neptune Marina on the town's historic waterfront, today published its preliminary results for the 12 months to June 30.

It reported an increased turnover of six per cent from £573.3m last year to £607.9m and profit before tax up 24.7pc from £85.1m to £106.1m.

Nearly 90 of the company's 113 apartments in the Neptune Marina complex have been reserved even though they are not due for completion until next year, proof, the company believes that Ipswich is the place to live.


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Chris Roads sales director for Redrow Homes (Eastern), said: "We're delighted with the response to our new homes in Ipswich and are looking forward to future developments in the town."

Today the company also announced that former Ipswich man David Arnold has been promoted from deputy finance director to the main board as group finance director.

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Mr Arnold grew up in Foxhall and was a pupil at St Joseph's College. He began his career with the Midland Bank in Ipswich and Felixstowe before taking a degree in banking and finance at Loughborough University.

He joined Redrow in 2002 and now lives in Cheshire with his wife Caroline and three children.

Weblink:

www.redrow.co.uk

www.neptune-marina.com

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