He said: "We spent a lot of time looking at consolidation but what is right for others with lower returns is not right for us. We're not saying that what others are doing is wrong, but it would not lead to an enhanced share performance." Redrow this week unveiled interim results for the six months to 31 December 2000. Pre-tax profit was up to £35.2m from £34.2m in the comparable period last year. Turnover was down from £205.2m to £198.2m.
Fitzsimmons said the housing market remained steady enough for Redrow to have opportunities for growth.
He said: "The market has a nice feel about it at the moment. Volumes remain pretty stable."