Bellway Homes’ sales record

BELLWAY has broken the 10,000-homes-sold barrier but profit margins are under pressure.

It sold 10,307 in the year to July 31, up 6.9 per cent on the previous 12 months.

Bellway says it expects “significant” earnings growth after revenue grew by 16 per cent to nearly £3billion and trading is “robust”. But it warns of slower price rises saying: “Higher-value homes have, at times, experienced slower sales rates.

“The net inflationary enhancement to the margin, which augmented results, is beginning to abate.”