But housebuilder says latest full-year margins will be lower than last time

Bellway

Bellway said revenue in its latest financial year will top the 拢3bn mark when it publishes its annual results this autumn.

In a trading update, the housebuilder said turnover in the 12 months to July would be 拢3.2bn, a rise of 8% on last time.

It said pre-tax profit was in line with market forecasts of 拢664m but admitted that operating margins would be lower than the 21.5% it reported in the first half and down from the 22.1% it posted to July 2018.

The number of homes it completed during the year was up by 5.7% to a record 10,892.

Chief executive Jason Honeyman said: 鈥淭rading conditions remain stable and customer confidence is resilient.鈥�

The average selling price rose by 2.5% to 拢292,000.

It will publish its full-year results on 15 October.

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