Housebuilder expecting to complete 1,000 more homes this year than last
Bellway has reported increased revenue, profit and completions in its half-year results, alongside an sunny assessment of its prospects going forward.
In interim results for the half-year to 31 January, the housebuilder pointed to an easing in planning delays and predicted forecast growth for the years to come.
Revenue was up 12% to £1.43bn in the period, while housing completions were also up 12% to 4,577.
Pre-tax profit was up 20% to £141m, while it opened 17 new outlets in the period and has 30 openings planned for the second half.
It also provided £9.4m as an adjusting item for legacy building safety, which it said comprised an adjusting finance expense of £7.3m.
The firm said that with planning delays easing and market conditions stabilising, it could deliver cumulative volume growth of 20% in the two years to full-year 2026.
The group said it remained on track to build at least 8,500 homes in the full financial year, almost a thousand more than in the previous year.
The firm will release its results for the year to 31 July in the middle of October.
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