Strong year for house builder Bellway with sales increase

One of the UK’s largest house builders, Bellway, increased sales by 8.2% in the financial year ending July 31, a pre-close trading update published yesterday reveals

The group, whose headquarters are in Newcastle, sold 5,652 homes during the period, compared with 5,226 last year.

The average selling price increased by 3%, from £186,648 to around £193,000, meaning housing revenue is expected to be around £1,090m, an increase of around 12% from last year’s £975m.

At the end of the year, the group had net bank debt of only £6m and an order book strong enough to provide the board “with reason for optimism for future volume growth”.

Bellway has 15 divisions throughout the UK.

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