Tuesday, 28 March 2017

House builder reports leap in profits

Bellway has today reported a 52 per cent increase in pre-tax profit and higher turnover.

The house builder, in its results for the year to 31 July, reported profit before tax of £67.2 million, up from £44.4 million the previous year.

Turnover increased from £768.3 million to £886.1 million and completed sales rose by 327 homes, while the company’s operating margin rose from 6.7 to 8.5 per cent.

The company’s average selling price for properties also rose to £175,613 from £163,175.

Bellway increased its landbank by 5,406 plots, spending £250 million on land. It now owns 18,086 plots with planning permission.

The group has increased its sales outlets from 185 to 205 and is pursuing a strategy of increasing its landbank further and opening more sales outlets to aid growth.

Howard Dawe, chairman of Bellway, said: ‘Bellway aims to continue to increase both volumes and average selling prices, the latter by way of ongoing changes in the product mix. 

‘This, combined with the improvement in the operating margin, should ensure that shareholder value continues to be enhanced.’

Readers' comments (5)

Comments are only open to subscribers of Inside Housing

Already a subscriber?

If you’re already a subscriber to Inside Housing, your subscription may not be linked to your online account. You can link your subscription from within the My Account section of the website and clicking on Link My Account.

Not yet a subscriber?

If you don't yet subscribe to Inside Housing, please visit our subscription page to view our various subscription packages.

Have your say

You must sign in to make a comment

sign in register


Newsletter Sign-up



  • Major house builder profits up 23%

    27 February 2017

    House builder Persimmon has increased its profits before tax by 23% to £782.8m.

  • House builder reports 'no Brexit impact' on trading

    2 November 2016

    Northern house builder Avant Homes reported today that there had been no notable impact on trading following the Brexit vote, as revenues and average selling prices were both significantly up.

  • Mears reports dip in profits

    16 August 2016

    A major housing and care contractor has announced a slight dip in profits in the first six months of the year, describing the care business as “challenging”.

  • House builder boosts profits

    10 May 2016

    A house builder boosted its pre-tax profits by 69% to £31m in 2015, after building 1,500 homes in London and the South East.

  • Wates reports increased profits

    6 April 2016

    A construction firm has reported a 26% increase in its pre-tax profits in its year end accounts.

IH Subscription