But housebuilder says latest full-year margins will be lower than last time


Bellway said revenue in its latest financial year will top the £3bn mark when it publishes its annual results this autumn.

In a trading update, the housebuilder said turnover in the 12 months to July would be £3.2bn, a rise of 8% on last time.

It said pre-tax profit was in line with market forecasts of £664m but admitted that operating margins would be lower than the 21.5% it reported in the first half and down from the 22.1% it posted to July 2018.

The number of homes it completed during the year was up by 5.7% to a record 10,892.

Chief executive Jason Honeyman said: “Trading conditions remain stable and customer confidence is resilient.”

The average selling price rose by 2.5% to £292,000.

It will publish its full-year results on 15 October.