Bellway says margin and volume to be squeezed

By Joey Gardiner2023-03-28T10:47:00

Source: Shutterstock

Housebuilder reports 0.6% fall in pre-tax profit

Bellway has said it expects build volumes and margins to fall in the year ahead despite a modest recovery in demand for homes since the collapse in the market in the aftermath of last September’s mini-Budget.

The Newcastle-based listed housebuilder, which today reported pre-tax profit down 0.6% for the six months to January 31, repeated earlier forecasts that it now expects to build 11,000 homes for the full financial year to July, down slightly on 2022.

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