Member Article

Bellway say order book is strong

Newcastle-headquartered housebuilder Bellway PLC has reported strong sales and a substantially increased order book.

The firm say a healthy housing market has spurred growth of its forward order book for homes due for completion by the end of July - up to £670 million, compared with £380 million at a similar point last year.

Bellway has spent £400 million on land and land creditors since August 1 2013 - a move it said provided excellent future growth.

It noted the government’s Help to Buy shared equity scheme continue to drive sales through access to mortgage finance.

Demand from within the London boroughs was particularly strong, although Bellway noted fewer customers used the Help to Buy route in the area.

Ted Ayres, chief executive, said: “The strong UK housing market and our disciplined approach to land investment provides a significant opportunity for ongoing volume growth.

“The Group has a substantial balance sheet and operational capacity for further expansion. Land with detailed planning permission is already in place to achieve next year’s volume growth aspirations.

“This strong position, together with a focus on improving return on capital employed, ensures that Bellway remains well placed to deliver further enhancement to shareholder value.”

This was posted in Bdaily's Members' News section by Tom Keighley .