Bellway first-half housing revenue up 4% to £1.5bn

Newcastle-based house building giant Bellway on Friday issued a trading update for the six months ended January 31, 2020, showing that its housing revenue rose 4% to £1.525 billion mainly driven by housing completions, which rose 6.3% to 5,321.

This was partially offset by a 2.5% fall in average selling price to £286,500.

Bellway reported a “robust” forward sales position with an order book comprising 4,598 homes and a value of £1.16 billion.

Profit before tax for the full year is expected to be in line with market estimates.

Bellway chairman Paul Hampden Smith said: “Bellway continues to increase the supply of affordably priced, good value new homes, following another successful trading period in which it has achieved further volume growth. 

“Constructing quality homes and maintaining high standards of customer service remain a priority for the group. 

“I am therefore delighted that Bellway continues to maintain its five-star homebuilder rating. 

“Looking forward, a robust balance sheet, operational capacity for expansion and a strong order book should ensure that the group is well placed to deliver additional, long term volume growth, thereby continuing our disciplined growth strategy.”