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Thu November 15 2018

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Bellway passes 10,000 homes in a year

16 Oct Bellway has reported record output, passing the 10,000 mark for house sales for the first time in its history.

"The group is making a substantial contribution to addressing the housing shortage in the UK," said chairman John Watson.

Its preliminary results for the year ending 31 July 2018 report the completion of 10,307 new homes, following nine consecutive years of growth in volume. The previous year's figure had been 9,644. The earnings per share were also at a record level, rising by 14.2% to 423.4p.

Revenue rose 15.6% to £2,957.7m and profit before taxation was £641.1m - up 14.3% on last year.

The group's order book had a value of £1,469.5m at 30 September (1 October 2017 - £1,361.5m).  "Whilst there is a risk to consumer confidence posed by the forthcoming exit from the EU, assuming that market conditions remain robust, Bellway has a solid platform from which to further increase output in the year ahead," said the company.

Bellway entered contracts to buy 12,962 plots (2017 - 11,613 plots) and has all the land in place - including detailed planning permission -  in order to meet this year's growth forecast.

The company's new Scotland East division began trading on 1 August 2018; there is also a a proposed investment in two further new divisions.           

MPU

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