Bellway has posted a rise in revenue and a robust forward order book, underlining “strong underlying demand” for new homes.
Revenue rose by 11.6% to £1.7bn in the six months ending January. Sales volumes were up by 6.3% to a record 5,656 homes, while its average selling price rose by 5.8% to £303,206.
Its forward order book at 14 March was 8.4% ahead at £1.6bn, comprising 6,028 homes.
The housebuilder said it expected sales of around 10,000 homes for the full year.
Private reservation rates grew by 3.3% to 156 per week, up from 151 in the previous year.
Pretax profit fell by 4% to £280.2m. However, EPRA net asset value per share grew by 3.9% to 2,564p.
During the period, Bellway set aside £20.3m to undertake cladding and fire safety repairs. This brought its total allocation for fire safety to £131.6m since 2017.
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