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News

Bright Future for Bellway Homes

Posted August 5, 2016
Mainline Hire

House Builder, Bellway, is expected to announce a healthy set of results in October with operating profit topping £480m.

Chief executive Ted Ayres said: “The group has delivered an outstanding trading performance, achieving new records for Bellway in respect of both volume and operating margin.  We have invested in high quality land and have maintained a significant forward order book, thereby ensuring that the group is well placed to continue its sizeable contribution to meeting the UK’s requirement for new homes in the year ahead.  It is still too early to assess the effect of the EU referendum result, however trading in recent weeks has been encouraging and Bellway, with its strong balance sheet and robust land bank, can be flexible and respond opportunistically to any changes in market conditions.”

“Only at the most expensive London developments have some customers shown post-Brexit anxiety and this is not a big market for Bellway. Overall, visitor numbers are still strong and the cancellation rate remains at a historic low” – the company said.

On 1st August Bellway opened a 19th trading division in Durham.  It’s good to hear yet another house builder with an optimistic outlook.  Here at Mainline we share in their positivity.