Newcastle-based house building giant Bellway on Thursday issued a trading update for the year ended July 31, 2019, saying its housing revenue is expected to rise by more than 8% to almost £3.2 billion.

Bellway said it had further volume growth, with its housing completions rising 5.7% to 10,892, a record for the group.

Profit before tax is expected to be in line with current market estimates.

Bellway said it has a strong forward order book, comprising 4,878 homes (2018 – 4,841 homes), with a value of £1.223 billion (2018 – £1.301 billion), providing “a solid platform from which to deliver further, more moderate volume growth in the year ahead.”

Bellway CEO Jason Honeyman said: “Bellway has concluded another successful year, further increasing the supply of much needed new homes and delivering a record number of housing completions …

“Trading conditions remain stable and customer confidence is resilient. 

“This, together with a strong forward order book and a healthy balance sheet, ensures that Bellway is well placed to continue its long term growth strategy.”