Bellway boost building programme
Published: 31 March, 2011
NEWCASTLE-UPON-TYNE: Bellway is to increase building volumes by 5% this year as sales levels and selling prices continue to improve.
Bellway is currently building on 200 sites with plans to start on another 10 within the next few weeks with 2000 homes completed by the summer.
Bellway cites improvements across the country with a 28% increase in volume at the northern divisions where average sales prices increased by just over 6% to £145 174.
Bellway currently has a land bank with planning permission for 18 683 plots.
Howard C Dawe, chairman said: "Consumer confidence remains fragile and could still be adversely affected by any one of a multitude of factors outside the Group's control. Bellway is, nevertheless, currently well positioned to deliver increasing returns through a combination of rising volumes, growing average sales prices and improving margins."
Interim results for the six months to January 31 2011 show Bellway made a profit of £24m compared to £19m last time as turnover rose to £407.9m from £360.8m.