Housebuilder says it will build a fifth more homes this year
Bellway has announced it will build a fifth more homes this year compared to last, after posting strong half-year results to the end of January.
The housebuilder posted a 73% jump in pre-tax profit for the period to 拢103.8m, up from 拢59.9m the previous year, while revenue rose 40% to 拢701.1m, up from 拢502.5m.
Bellway said it will build 20% more homes over the full current financial year 鈥渁s a result of a strong start to the spring selling season鈥�.
The firm said its average selling price rose to 拢212.071, up from 拢187,426, while there was a 25% uplift in completions to 3,425.
Chairman John Watson (pictured) said: 鈥淭he group鈥檚 operational and balance sheet capacity for volume growth has allowed Bellway to respond positively to strong consumer demand.
鈥淭he resulting growth in earnings, together with a strong focus on increasing return on capital employed, has allowed the Group to enhance the total return to shareholders through growth in the net asset value, together with the payment of a regular and progressive dividend.鈥�
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