Completions and revenue surge at Bellway

Bellway completed 10,138 homes in the year to the end of July, 34.8% up on last year (7,522) and in line with 2019 (10,892). The increase drove a 41% surge in revenue to over £3.1 billion, 2.5% below the level achieved in financial year 2019.

In a trading update issued today (Tuesday August 10^th), Bellway reported good underlying demand across the country, with a private reservation rate of 169 per week (2020 - 141, 2019 - 160) and “a front-footed, yet disciplined approach to land investment, with a record 19,819 plots (inc JVs) contracted in desirable locations, with a total contract value of £1,066.0 million (2020 - £777.7 million, 2019 - £787.7 million).”

Bellway revealed a record forward sales position, with an order book comprising 7,082 homes at a value of £2,022.3 million (2020 - £1,760.2 million, 2019 - £1,223.9 million).

Bellway ceo Jason Honeyman said: "Bellway has delivered a strong performance, with volume output once again above 10,000 homes and housing revenue approaching 2019 levels. This positive recovery has been achieved through the hard work and dedication of our colleagues, subcontractors, and supply chain partners, while maintaining the high quality of our product and making further improvements in the service we …