Boost in figures for housebuilder
British ‘love affair with homes’ boosts Bellway
Housebuilder Bellway reported a 44% rise in pre-tax profit to a record £354.2 million, which was ahead of forecasts.
Chairman, John Watson, said: “Bellway has produced another outstanding set of results, completing a record number of new homes, whilst simultaneously making a record investment in land and opening a further two new divisions in the last twelve months.
“This successful implementation of the Group’s disciplined growth strategy has enabled the Board to propose a final dividend of 52p per share, bringing the total dividend for the year to 77p.
“Bellway is well positioned to continue delivering its strategy for growth, investing in high quality locations and delivering further sustainable returns for shareholders. The outlook remains positive and the strength of the forward order book should enable the Group to achieve volume growth of up to 10% in the current financial year.”
AJ Bell investment director Russ Mould said: “Shareholders are reaping the rewards with the proposed dividend up 48% at 77p per share.
“The British love affair with their homes shows no sign of slowing down and Bellway has taken an average of 149 reservations per week since the start of August, an increase of 16% on last time and giving it confidence that it can grow volumes by up to 10% in the current year.”