Housebuilder says completion up during period
Bellway has increased its housing turnover 3.5% as strong market demand led to a record number of completions in the first half.
The housebuilder, in a trading update covering the six months to 31 January, reported housing revenue of 拢1.78bn up from 拢1.71bn the previous year.
Bellway completed 5,694 new homes, up slightly on the 5,656 completed during the same period the previous year. It said it is on track to boost its output for the full year by 10%. Completions totalled 10,138 in the previous full year.
Its average selling price rose 2.8% to 拢311,800, which it says exceeds previous expectations.
Bellway鈥檚 said it now expects its operating profit margin for the full year to be above 18%, compared to 17% the previous year.
Bellway also said it welcomed the government鈥檚 鈥渁ttempt to restore a more proportionate approach towards fire remediation strategies and we will engage positively with them to help establish a workable, industrywide solution鈥�.
It added: 鈥淲e will continue our proactive and responsible approach and we share the Government鈥檚 general sentiment that the costs of correcting historical fire safety defects should not be borne by residents.鈥�
Bellway鈥檚 interim results are due out on 29 March.
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