Bellway eyes 11,000 homes target after record year

Aaron Morby 8 years ago
Share

Bellway has delivered a seventh year of strong growth raising completions by nearly 13% to a record 8,721 homes.

Bellway reports shortages of groundworkers, bricklayers and scaffolders in south east
Bellway reports shortages of groundworkers, bricklayers and scaffolders in south east

The house builder said that trading had remained resilient since the EU referendum as it reported record pre-tax profits ahead 40% at nearly £500m from revenue up 27% to £2.24bn in the year to the end of July.

In the nine weeks since 1 August, the house builder took around 162 reservations per week (2015 – 149), an increase of 9% compared to the same time last year.

The huge growth in profits was helped with a £17m one-off profit from the disposal of  the vast Barking Riverside development, near London and a 13% rise in the average selling price to £252,793.

Chief executive Ted Ayres said there was still some upward pressure from labour costs, particularly in the South East, where the availability of  ground workers, brick layers and scaffolders remained restricted. 

The firm said that material cost increases had largely abated with only occasional availability issues.

Bellway said it had now factored in longer lead in times into build programmes and strong relationships with suppliers was helping to ensure that construction timetables were being met.

He said: “The extent of volume growth this year will depend on whether customer confidence is maintained and strong sales rates continue throughout the autumn and subsequent spring selling seasons.

“From its structure of 19 operating divisions, the group has the capacity to deliver around 11,000 new homes per annum and is well placed to increase this capacity, through the opening of further new divisions, should market conditions remain robust.”

Latest news

BAM plans wave of job cuts at UK Construction arm

Co-op Live arena plunges Bam Construction to £19.5m first-half loss
8 hours ago

Robot tunnel builder goes into administration

Hypertunnel was hoping to revolutionise how underground structures are built
9 hours ago

“Scrap CITB” say three quarters of construction firms

Payroll giant Hudson Contract calls for CITB to be absorbed into new Skills England training body
8 hours ago

Wates to build £86m Guildford Council housing scheme

40% of the 248 homes will become council homes under partnership deal
9 hours ago

£100m Prestwich Village revival approved

Vinci and Willmott Dixon in chase for Muse-led regeneration scheme
18 hours ago

Carbon negative asphalt trialled on M11

Skanska and Tarmac test CO2 absorbing aggregate material on stretch of Essex motorway
10 hours ago

Father and son sentenced over covid construction loan fraud

Bristol builders given suspended jail sentences over bogus Bounce Back Loans
9 hours ago

Beck Interiors files administration notice

Supply chain has suffered delayed payments from £139m-turnover luxury fit out specialist
1 day ago

Green light for York Central civil service office hub

£60m office project accelerates York Central goods yard redevelopment
1 day ago

Blenheim House Construction enters administration

Administrators looking at options on present projects
2 days ago

Profits rise at Esh Group with more to come

Contractor confident about year ahead as market conditions move in right direction
1 day ago

Piling specialist Van Elle sees housing orders rise 30%

Mark Cutler says firm on course to deliver 10% annual sales growth
1 day ago

HS2 to spend £100m shutting sites where work never started

Remediation of sites no longer needed for cancelled Phase 2 will take three years
2 days ago

Willmott Dixon wins £61m deal for new Army dog unit

Contractor to revamp Kendrew Barracks in Rutland
1 day ago

Stockport advances 4,000-home Town Centre East plan

Council seeks consultants to steer plan for 280-acre area in the city
1 day ago

ISG sale imminent as buyers set-up UK holding company

South African nutrition entrepreneur and Australian partner primed to take over
2 days ago

CR Construction wins £210m Manchester towers

Construction to start next year on four blocks ranging from nine to 34-storeys
2 days ago

Southern Housing to rationalise supply chain following merger

Firms put on alert for £1.7bn construction framework renewal
2 days ago

Decision delayed on 52-storey Isle of Dogs tower

Hong Kong developer plans 460 flats block next to Millwall Inner Dock
2 days ago

Go-ahead for £850m North London estate rebuild

Flagship Edmonton housing estate redevelopment will deliver 2,000 new homes
2 days ago

Mace lands £184m Oxford Science Park contract

Contractor to build trio of laboratory and office buildings
3 days ago

Worker paralysed in 30ft fall during electricity pylon demolition

Specialist firm fined £240,000 after court hears linesman attached lanyard to a loosened steel section
2 days ago

Sir Robert McAlpine clinches £4bn Somerset gigafactory

2.6m sq ft car battery plant will require over 2,000 workers at peak construction
3 days ago

House builder Hill Group tops £1bn turnover

Group's controlled development pipeline stands at £10bn
3 days ago

Higgins wins 360 new homes job in south London

Firm will now work up planning for phase 2 of Brixton housing project
3 days ago

Kier starts £48m Ealing high school job

Northolt High School to be rebuilt for 1,130 pupils
3 days ago

Plans in for £64m Suffolk A12 upgrade

Work to start next summer on dualling and junction upgrades
3 days ago

Man suffers multiple fractures in HS2 accident

Engineering firm fined after fall leaves worker in hospital for two months
3 days ago

Go-ahead for Milton Keynes’ largest private rental project

Platform_ to build 20-storey scheme of 335 flat next to train station
6 days ago

A2Dominion reins in new-build and cuts development team

Housing association to stop private new build sales in big strategy switch
6 days ago

Contractor services