Bellway profits boosted by ‘robust’ housing market

Housebuilder Bellway has cheered a double-digit rise in profits as Britain’s “robust” housing market helped it sell more homes at a higher price. Pre-tax profits jumped 17 per cent to £288.7m for the half year, as the number of homes sold ticked 6 per cent higher to 4,741. Revenues were also bright, climbing 15 per cent to £1.3bn for the six months ending in January thanks to 7 per cent growth in the average selling price at £275,945. Bellway, which employs around 2,000 people across the UK, hiked its interim dividend by 28 per cent to 48p per share. The firm said it expected volumes to pick up by around 600 homes at year end, helping it reach an all-time high of 10,000 new homes per year.