Finance

Help-to-Buy boosts Bellway profits as it targets 10,000 homes a year

By 2018-03-20T08:18:00

Bellway st georges

Housebuilder Bellway has revealed half-year pre-tax profit leapt 16.6% and that it is on track to deliver record sales for the full year, thanks to the government’s HTB scheme.

The group also said it was on track to build more than 10,000 homes in a year for the first time as pre-tax profits rose to £288.7m for the six months to 31 January.

Home completions growth of 6.3% to 4,741 homes, together with average selling price growth of 7.7% to £275,945 drove the increase in profit. Revenue grew 15% to £1.32bn, from £1.15bn, the company added.

Bellway expects to grow volume of sales by around 600 additional homes. Such an increase would enable its housing output to exceed 10,000 new homes a year for the first time in its history.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Try Property Week For Free to finish this article.

Sign up now for the following benefits:

  • Unlimited access to Property Week
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue