House builder Redrow reports 23% rise in profits

Wales' biggest house builder Redrow has reported a rise of 23% to £250m in its pre-tax profits.

The Flintshire-based firm said sales were "very encouraging" after figures released on Tuesday showed revenue rose 20%.

A spokesman said they were confident it would be "another year of significant progress for Redrow".

Chairman Steve Morgan told the Good Morning Wales programme the business had seen "no effect" from Brexit.

He said demand for homes was "stronger than it's ever been".

However, he also reiterated comments he made last year that fewer houses may be built in Wales because of the increasing costs of regulations.