14th Oct 2014 06:25
LONDON (Alliance News) - UK housebuilder Bellway PLC Tuesday reported a jump in full-year profit as higher sales volumes at higher average prices lifted revenue by a third, and the company predicted further volume growth in the current year, albeit at a slower rate.
The company reported a pretax profit of GBP245.9 million for the year to end-July, up from GBP140.9 million a year earlier, as revenue rose to GBP1.49 billion, from GBP1.11 billion. It raised its total dividend to 52.0 pence, from 30.0 pence, on the back of the strong results.
Its legal completions rose 21.2% in the year to 6,851, from 5.652 a year earlier, and the average selling price it achieved rose to GBP213,182, from GBP193,025.
"The outlook remains positive with a record forward order book and this should enable the group to deliver volume growth of around 10% in the current financial year," Chairman John Watson said in a statement.
It said its forward order book stood at 4,435 homes at the end of September, up from 3,316 a year earlier and a record level.
By Steve McGrath; [email protected]; @stevemcgrath1
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