Bellway ups dividend after returning to profit

24th Mar 2010 08:37

Housebuilder Bellway upped its dividend by 10% after moving back into profit in the half year to January 31.Pre-tax profits during the six month period totalled £19m, up from a loss of £48.6m. Turnover climbed to £360.8m from £320.2m, as falling house prices attracted new buyers and prices stabilised.Bellway completed sales of 2,247 homes during the period, up from 2,014 over the same period the previous year. The average price achieved fell to £155,871 from £156,146.The dividend for the year increases to 3.3p from 3p. 'Bellway is well placed to benefit from a housing market that should gradually improve over time,' said chairman Howard Dawe.