Bellway reports strong H1 growth boosted by market conditions

8th Aug 2014 07:57

Bellway reported strong growth for the first half of 2014, strengthened by strong customer demand and an improving economic outlook.The real estate group expects to increase the value of its forward order book by 36% to £924.3m at 31 July, up from £679.5m the year before.The firm reported a 33% increase in housing revenue to around £1.46bn compared with last year's £1.09bn, a new record for the firm.Bellway said it responded positive to strong market conditions, having seen a 21.2% rise in the number of houses completed by the group bringing the total to 6,851, up from 2013's 5,652 homes.Chief executive Ted Ayres said: "The favourable trading environment, together with the group's national presence and strong balance sheet, ensures that Bellway is well positioned to continue its growth strategy and this, together with a strong focus on return on capital employed, should lead to further enhancements to shareholder value."Bellway's preliminary results are scheduled to be released in October. WS