Bellway has completed a record number of homes in the first half of the year, which is leading to almost record revenues at the housebuilder.
In the six months to January 31, the group completed 5,694 new homes. Revenues at the group is expected to grow from £1.715bn to £1.778bn.
“Bellway has delivered a strong first half performance, achieving record volume output and housing revenue, notwithstanding the wider economic challenges presented by labour, material and fuel shortages and COVID-19 related absenteeism,” said chief executive, Jason Honeyman.
“We have continued our disciplined investment in land and enter the second half of the financial year with a strong order book and a backdrop of ongoing, positive trading conditions,” he added.
Going forward, Bellway is on track to deliver its target volume growth of around 10% this financial year and further growth to around 12,200 homes in financial year 2023. Thereafter, our strong balance sheet and capacity to invest positions the Group well to continue its long-term and disciplined growth strategy,”