Bellway housing revenue up 41% to £3.1bn

Newcastle-based house building giant Bellway said on Tuesday its housing revenue rose 41% to over £3.1 billion in the year ended July 31, 2021, compared to £2.2 billion in 2020 and £3.18 billion in 2019.

Bellway said its order book on July 31, 2021, had risen 14.9% to a record £2.022 billion, comprising 7,082 homes.

In a trading update for the year, Bellway said its housing completions rose 34.8% to 10,138, up from 7,522 in 2020 and just below the 10,892 of 2019.

Bellway CEO Jason Honeyman said: “Bellway has delivered a strong performance, with volume output once again above 10,000 homes and housing revenue approaching 2019 levels.

“This positive recovery has been achieved through the hard work and dedication of our colleagues, subcontractors, and supply chain partners, while maintaining the high quality of our product and making further improvements in the service we offer our customers.

“Going forward, we are in an excellent position to continue our long-term growth strategy.

“The group benefits from a substantial order book and a robust balance sheet.

“In addition, our record investment in land and the resultant strengthened land bank provides a strong platform for both volume growth and further margin recovery in the years ahead.”