Bellway profits more than double

Bellway profits more than doubled to £479m for the year to July 31.

Revenues also jumped 40.3% to £3.12bn on the back of the strong housing market this past year.

The housebuilder has warned of supply chain issues, which are holding back the construction sector. Disruption in supply chains is increasing the price of steel and timber.

“In addition, the national shortage of heavy goods vehicle drivers and recent disruption to fuel supplies has had some impact on the availability of materials.”

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“In general, these constraints are manageable by adopting good procurement disciplines and forward planning. They will, however, mean that construction output in the first half of financial year 2022 is likely to remain similar to that achieved in the first half of financial year 2021,” said the group in a trading statement.

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