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Bellway hits the heights

7 Aug 15 House-builder Bellway has just completed a record year for the company with completions up by more than 13% and sales revenue up more than 18%.

In a pre-close trading update for the year ended 31st July 2015, Bellway revealed that sold a record 7,752 new homes in the past 12 months (2014: 6,851).

With a 5% improvement in the average selling price to around £224,000 there was an overall increase in housing revenue to £1.73bn (2014: £1.46bn).

The operating margin is expected to top 20%, up from 17.2% the previous year.

On 1st August 2015, Bellway opened its 17th operating division, in Kent.

Chief executive Ted Ayres said:  "The group has continued to trade well, against a backdrop of favourable market conditions, delivering a record number of legal completions, whilst further adding to an already strong forward order book.  We have made a substantial investment in attractive land opportunities and the Group has the balance sheet and operational capability to invest further, thereby enabling Bellway to continue delivering additional and much needed new homes."

Preliminary results for the year will be announced on 13th October 2015.

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