Bellway sees strong growth

Bellway completed 5,007 homes in the six months to the end of January 2019, 5.6% ahead of last year. Total revenue is expected to rise by more than 12% to almost £1.5 billion.

In a trading statement issued today ahead of its interim results next month, Bellway said it had achieved a record sales performance with its weekly reservation rate up 2.8% to 183, the highest achieved by the group in a first half trading period. The private sales rate was 136 reservations per week, in line with last year. “This is a robust performance given the ongoing discussion around our forthcoming exit from the EU, which has inevitably had some bearing on customer confidence in the wider economy,” Bellway said. The firm added that the early signs were that customer demand and reservations would follow their usual seasonal trend but “the board remains cautious given the uncertainty regarding the UK’s forthcoming exit from the EU and the extent to which this will affect customer confidence."

Bellway chairman Paul Hampden Smith said: “Bellway has delivered another strong trading performance, achieving growth in both volume and average selling price in the six month period. Further, disciplined investment in …