Housebuilder Bellway (LON:BWY) reported strong figures for the six months to January’s end, with housing completions up 6.3 percent and an expected rise in revenue for the full year.
The number of housing completions hit 4,741, up from 4,462 during the same period in 2017, while the average selling price for a property rose around 7.8 percent to a record £276,000.
Due to this, the group now expects housing revenue to rise by over 14 percent to around £1.3 billion.
Looking forward, Bellway expects to continue the rate of growth seen in the first hald of the year, completing on around 600 further homes before 31 July 2018.
John Watson, Executive Chairman, said: “Bellway is continuing to make a sizeable contribution to the supply of much needed new homes and has delivered a further increase in both volume and average selling price in the six month trading period.”
“Significant investment in land, together with ongoing plans to expand the divisional structure, should lead to a further increase in output and hence result in additional value creation for our shareholders.”
Bellway’s share price is currently down 0.0091 percent at 3,310.00 (0852GMT).