<p>Bellway’s financial performance has been “significantly affected” by the coronavirus pandemic but like other housebuilders it has seen strong sales since lockdown.</p> <p>Reporting on its results for the year ending July 31 2020, the housebuilder said that during the period its housing completions dropped <span class="on"><span>30.9% against the previous year to 7,522. </span></span></p> <p><span class="on"><span>Pre-tax profit plummeted </span></span><span>64.3% to £236.7 million. Covid’s impact also ended the firm’s ten year run of revenue growth, with housing revenue falling 30.7% to £2,204.4 million. Its pre-exceptional operating profit decreased 52.3% to £321.7 million</span>.</p> <p><span>During the year, Bellway’s average sales price rose slightly to £293,054 against 2019’s £291,968. Its average reservations were down 15.2%</span> at 178 per week.</p> <p><span>The business encountered costs totalling £44.7 million in response to the pandemic. It also set aside a £46.8 million exceptional charge to cover fire safety improvements on legacy apartment schemes.</span></p> <p><span>Following the easing of restrictions and the chancellor’s stamp duty announcement, Bellway saw private sales demand “gather pace”. It has experienced an “encouragingly strong” start to its new financial year; in the nine weeks since August 1, overall reservations rose <span class="oa">30.6% to 239 per week against the same period last year.</span></span></p> <p><span class="oa"><span>Bellway reported a …