Bellway to boost building programme as demand rises

Grant Prior 13 years ago
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Bellway is looking to boost construction volumes by 5% this year as sales levels and selling prices continue to improve.

Bellway is currently building on 200 sites with plans to start on another 10 within the next few weeks as 2,000 homes are due to be completed by the summer.

The company confirmed today: “Against this backdrop, the Board has decided to revert to its original target of incremental volume growth for the twelve month period and now hopes to increase unit completions by around 5%.”

Bellway is seeing improvements across the country with a 28% increase in volumes at the northern divisions where average sales prices increased by just over 6% to £145,174.

Bellway currently has a landbank with planning permission for 18,683 plots.

Chairman Howard C Dawe said: “Consumer confidence remains fragile and could still be adversely affected by any one of a multitude of factors outside the Group’s control.

“Bellway is, nevertheless, currently well positioned to deliver increasing returns through a combination of rising volumes, growing average sales prices and improving margins.”

Interim results for the six months to January 31 2011 show Bellway made a profit of £24m compared to £19m last time as turnover rose to £407.9m from £360.8m.

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