Bellway sees 14% rise in completions, revenue up 17%

HOUSEBUILDER Bellway has reported a 14.3% rise in completions in its last financial year but wants more Government help for first-time buyers.

- TOM KEIGHLEY Business Writer [e-mail]

The North East-based FTSE250 firm saw revenue grow 17% to £2.76bn in the year to the end of July, having completed 8,749 homes, compared with 7,654 the year before.

Ahead of a full-year announcement in October, Bellway told investors its underlying operating margin is expected to approach 11%, up from 10% last year, and ahead of previous forecasts.

Bosses said the 2025 financial year had brought a solid performance despite demand tapering off in recent months.

They pointed to continued delays caused by local authority planning departments, who they said are taking time to adopt new local plans and the updated National Planning Policy Framework.