Bellway reports £100m interim profits

Housebuilder Bellway has reported interim profit of £100.8m, up 15% on its first half performance last year.

Pre-tax profit for the six months ended 31 January compared with £87.8m for the corresponding period last year. Turnover rose 14% to £576.5m, while sales increased 10% to 3,264.

The housebuilder, which specialises in lower cost housing, reported a healthy forward order book of £732m, and a land bank of 40,000 plots.

Howard Dawe, chairman, said: “Our objective is to remain focussed on the delivery of lower value housing and that the board believes its proven operational model will continue to deliver growth for shareholders well into the future.”