Bellway maintains growth
Half-year results for house-builder Bellway show continued healthy growth in turnover and profits.
For the six months to 31st January 2017 Bellway made a pre-tax profit of £247.6m on £1,148.5m revenue. The profit figure was up 9% (2016: £226.6m) and revenue was up 6% (2016: £1,084.9m).
The operating margin improved from 21.4% to 22.0%.
This is the eighth successive year of revenue growth for Bellway, over which period, revenue has increased by more than 250%.
Chairman John Watson said: "Bellway is achieving this growth whilst retaining a focus on return on capital employed and maintaining an appropriate and conservative use of bank debt and land creditors. Our strong balance sheet and operational capacity still provides scope for further controlled expansion, enabling Bellway to achieve additional, future volume and earnings growth, by continuing to invest in attractive land opportunities across the country.”
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This article was published on 21 Mar 2017 (last updated on 21 Mar 2017).