Redwire (US:RDW) Forbes·2025-07-15 08:25Core Viewpoint - Barratt Redrow shares experienced a significant decline due to warnings about legacy issues impacting profits and lower-than-expected home completions [2][4] Financial Performance - The company expects to incur additional legacy property liabilities of £248 million, with £98 million related to fire safety and reinforced concrete frame issues [3] - Adjusted pre-tax profit is predicted to meet market expectations after stripping out these adjustments [3] - Cost synergies of £69 million have been achieved from the Redrow acquisition, with a target of total savings of £100 million [3] Completions and Forecast - Total home completions for the year were 16,565, down from 17,972 in the previous year and below the forecast of 16,800-17,200 [4] - For the current financial year, total completions are projected to be between 17,200 and 17,800, including 600 from joint ventures [5] - The medium-term target remains at 22,000 completions per year [5] Cash Position and Share Repurchase - The company ended financial 2026 with net cash of £772 million, a decrease from £868.5 million in the prior period but above expectations [5] - Plans to repurchase up to £100 million of shares by the end of the current financial year have been announced [5] Market Outlook - The CEO noted a solid performance despite a challenging market, with adjusted profits aligning with market expectations [6] - There is a long-term structural under-supply of housing in the UK, which may support future demand [7] - Analysts have mixed views, with some noting that sales rates are improving despite hurdles like increased stamp duty and slow planning approvals [8]