Newcastle-based house building giant Bellway said on Friday it expects housing completions for the full year to July 31, 2021, to increase by around 25%.

In a trading update relating to the 17-week period to November 29, 2020, Bellway said its order book comprises 6,186 homes with a value of £1.766 billion, up from £1.488 billion around the same time of the previous year.

Bellway said its board is recommending a final dividend of 50p per share for the year ended July 31, 2020, (July 31, 2019 – 100p per share) “and expects to increase future dividend payments, commensurate with the recovery in earnings.”

Bellway CEO Jason Honeyman said: “Bellway is in a robust position and notwithstanding the recent widespread ‘lockdown’ restrictions throughout the country, sales demand is encouraging, and the order book is strong. 

“We have substantial cash resources, considerable ability to continue investing in land and with our solid operational structure, we are determined to return the group to its strategy of delivering long-term and sustainable growth.”