Bellway records revenue increase
By Neill Barston10 February 2015
UK-based homebuilder Bellway has shown a 19% housing revenue increase to over £820 million (€1.1 billion), according to its latest six-month trading update.
Its figures showed positive results across its operations, including a 15.7% sales growth totalling 3,754 homes, compared with 3,245 properties for the first half of 2014.
An increase in its order book was also recorded, up 24.5% to £975 million (€1.31 billion) for the period. It has also made a significant land investment of £355 million (€478 million) across the UK.
Bellway said there had been a surge in its growth following the government’s Help to Buy scheme, designed to assist first-time buyers enter the housing market.
Ted Ayres, chief executive, said, “The group's strategy of delivering volume growth, with a strong focus on return on capital employed has resulted in a further significant rise in profitability. With advanced plans to open a 16th division in the second half of the financial year, Bellway is well positioned to deliver further earnings growth.”