Bellway profit slumps by two-thirds

By Joey Gardiner2020-10-20T10:41:00

Firm suffers hit from pandemic and “legacy” fire-safety issues, but reports strong sales rebound

Pre-tax profit at Bellway has slumped by two-thirds in the wake of the coronavirus pandemic, which followed a huge one-off bill for bringing old schemes up to new fire-safety standards.

Announcing financial results for the year to July 31, Bellway said pre-tax profit fell 64% to £237m, on revenue of £2.23bn. This was down 31% on 2019, in a year “significantly affected” by the pandemic.

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