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Sat April 20 2019

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Bellway profits up 9%

27 Mar Latest beneficiary of the benevolent market for house-builders is Bellway, which has reported a solid half-year improvement.

In the six months to 31st January 2019 Bellway increased its pre-tax profit by nearly 9% to £313.9m (2018: £288.7m) on revenue up 12% to £1,488m (2018: £1,324m).

“The group has achieved substantial volume growth and, following 10 consecutive years of rising output, the number of homes sold by Bellway has risen by almost 150%,” said chairman Paul Hampden Smith.

Bellway sold 5,007 homes in the first half of its current financial year at an average price of £293,800. This compares to 4,741 homes in the same period the previous year at an average price of £275,900.

MPU

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