The growth was largely attributable to a 13.4% expansion in private house completions (4,358 units). Bellway reported an operating margin of 11%, with average sales price growth of 6% to £187,000.
Demand for new homes remained resilient and reservations averaged 101 per week – 9% above a year ago. Bellway expects its pre-tax profits to be modestly ahead of the current £98m projection.
Bellway’s order book has grown by 3.4% to £441m, representing 2,533 homes.
