Redrow posted solid first half results. Revenue increased by 20% to £1.04 billion and pre-tax profit rose by 11% to £174 million. The order book at the end of the six month period was £1.3 billion – a record. Housebuilders have seen high demand lately thanks to the government's decision to scrap stamp duty on property purchases worth up to £500,000, so it is not a surprise that Redrow's order book is healthy. First half completions were 3,065, up 20% on the year. The company resumed a dividend of 6p, it was signalled in September that it was planning on returning to making cash pay-outs. Redrow cautioned about construction activity being impacted by restrictions. The stock saw a lot of volatility on the open but it is in the red despite the decent update.