Bellway celebrates record full-year results

Housebuilder Bellway has revealed that its full-year pre-tax profits jumped 21.4% to £205.5m - exceeding £200m for the first time.

Turnover expanded 14.5% to £1.09bn as the company sold more homes at a higher average selling price.

In August, the company said it was on course for another "record" set of full-year results after homes sales increased to 6,610 from 6,278 in the last 12 months.

However, Bellway has confirmed today (Tuesday) that while the average selling price of its homes rose to £161,400, from £149,700, this is still one of the lowest in the industry and it will continue to focus on selling to the lower to middle market.

Chairman Howard Dawe said:  "I am delighted to announce that Bellway, in its 25th year as a listed company, has produced yet another record set of annual results". 

"The Group has a robust balance sheet and, most importantly, a structure which operates with a high level of autonomy which has proven itself capable of creating successful returns in both strong and weaker markets.

"For all these reasons the Board remains confident that Bellway's successful track record will continue into the future".