Newcastle-based housebuilder Bellway plc said its housing revenue rose 17% to more than £2.76 billion in the year ended July 31, 2025, with underlying operating margin expected to approach 11%.

In a trading update for the year, Bellway said its total housing completions increased 14.3% to 8,749 homes at an overall average selling price of around £316,000 (2024 – £307,909), both slightly ahead of previous guidance.

Driven by a higher level of private reservations during the year, Bellway’s forward order book at July 31 increased to 5,307 homes (2024 – 5,144 homes), with a value of £1.519 billion (2024 – £1.412 billion).

“Reflecting the strength of our land bank and drive for capital efficiency, we have continued with a disciplined approach to land acquisition and contracted to purchase 8,120 plots during the year (2024 – 4,621 plots),” said the Newcastle firm.

“Bellway has a well-capitalised balance sheet with year-end net cash of £42m, in line with the board’s expectations (2024 – net debt of £10.5m).

“The group has a strong land bank and outlet opening programme, which together with our healthy order book and work-in-progress position supports our plans for further growth in volume output to around 9,200 homes in FY26.”

Bellway CEO Jason Honeyman said: “Bellway has delivered a solid performance despite ongoing headwinds for our industry. There was good growth in volume output and an improvement in underlying margin which are set to drive a strong increase in profits for FY25.

“We have entered the new financial year with a healthy forward order book and outlet opening programme and, if market conditions remain stable, we are well-positioned to deliver further growth in FY26.

“We have a high-quality land bank and the operational capacity across the Group to support our plans to deliver long-term volume growth.

“During the year we have made excellent progress with refreshing our approach to capital efficiency across all our divisions, and I remain confident that we can drive increased cash generation and shareholder returns in the years ahead.”

Bellway also announced the appointment of Gill Barr as an independent non-executive director with effect from September 15, 2025.

“Gill will also be appointed as a member of the Audit, Nomination, and Remuneration Committees with effect from the same date,” said Bellway.

“Gill will become Chair of the Remuneration Committee in April 2026 when Jill Caseberry steps down from this role before retiring from the Board later in the year.

“Gill has extensive marketing, strategy and general management experience across a number of industries.  She was Group Marketing Director of The Co-operative Group from 2011 to 2014 and was previously Marketing Director of John Lewis. Prior to this she spent seven years at Kingfisher Plc where she held a variety of senior marketing and business development roles.

“She is currently a Non-Executive Director at DFS Furniture plc where she is Chair of the Remuneration Committee and a member of the Audit, Nomination and Sustainability Committees.  She has previously acted as a Non-Executive Director of PayPoint Plc, Wincanton plc, McCarthy & Stone plc, N Brown Group plc and Morgan Sindall Group Plc.”

Further, Bellway announced the appointment of Phil Hope as company secretary, replacing Simon Scougall who was appointed chief commercial officer on August 1, 2024.

“Phil joined Bellway 15 years ago and has held senior positions within the Group including that of Group Financial Controller and Finance Director and is now Finance Director and Company Secretary,” said Bellway.

“Phil has significant corporate governance and listed company experience.”