Housebuilder boosts management with 40 made redundant in takeovers.
Housebuilder Bellway Homes has taken advantage of the recent wave of redundancies in the sector to recruit 40 staff from its rivals, writes Tom Broughton.

Bellway has appointed former Wimpey employee Tony Watling managing director of its Yorkshire division and Tony Paler from Beazer becomes sales director.

The recruitment drive stretches across the firm's divisional network, with Bellway Scotland taking on former Barratt, McLean, Wimpey and Wilcon Homes employees.

Job losses and redundancies have been prevalent in the housebuilding sector this year, after a number of acquisitions.

Recent job cuts have included 660 laid off in the wake of Persimmon's acquisition of Beazer, 435 at Wimpey after its merger of McLean Homes and Wimpey Homes, and 150 after Taylor Woodrow's purchase of Bryant Homes.

John Watson, chief executive of Bellway Homes, said the recent spate of redundancies and job losses in housebuilding had been to the firm's advantage and that he is delighted with the intake.

In a trading update last week, Bellway said its results will be released on 16 October and are expected to show a number of indirect benefits from consolidation, including record pre-tax profit.

The firm reported that a rise in the average selling price of its homes had lifted sales and pre-tax profit in the year ending 31 July 2001.

Bellway said it would continue to grow by winning market share, but did not exclude the possibility of acquisitions.

The announcement came as speculation mounted in the City that Bellway could be involved in further consolidation, possibly merging with Bovis Homes, the UK's 10th largest housebuilder.

Bellway's trading statement added that demand for its homes remained strong and that the level of reservations was similar to last year's.

The statement added that, although constraints in the planning system continued to postpone the start of developments, they also proved to be advantageous in providing more time to maximise the potential of sites.