Bellway builds more houses
Published: 27 March, 2013
Bellway sold 2,597 houses in the year ending January 2013 – up 5.8 percent on the previous year.
According to the housebuilder, revenue increased by 9.6 percent to £503m, with pre-tax profit up 48 percent to £60m. It said that over the past year the availability of “affordable, higher loan-to-value mortgage products has remained a constraint that has tempered consumer demand”, but that it welcomed the Government’s Budget measures to support the housing market.
It continued: “Whilst it is too early to assess the effect these measures may have, we remain hopeful that they will lead to improvements in mortgage accessibility.”
Bellway chairman John Watson said: “The Group has delivered another strong set of results, having achieved further growth in volume, average selling price and operating margin and this has contributed to an improvement in return on capital employed.”