Housebuilder Bellway revenue nears pre-pandemic level
Housebuilder Bellway has reported revenue nearing pre-pandemic level in its latest trading update.
Revenue was just 2.5 per cent below the 2019 level thanks to underlying demand, the firm said in an update for the year ended 31 July 2021.
Housing revenue rose by 41 per cent to over £3.1bn compared to £2,204.4m in 2020 and £3,180.1m in 2019.
The number of housing completions rose by 34.8 per cent to 10,138, close to the pre-pandemic figure of 10,892 for 2019.
The Newcastle firm also reported good underlying demand across the country, with a private reservation rate of 169 per week. This represents a 19.9 per cent and 5.6 per cent jump compared to the prior year and financial year 2019 respectively.
Bellway said it was taking a “proactive and responsible approach” to concerns about fire safety in high-rise buildings and was continuing to review risks on past high-rise developments.
“Bellway has delivered a strong performance, with volume output once again above 10,000 homes and housing revenue approaching 2019 levels,” Jason Honeyman, chief executive, said.
“This positive recovery has been achieved through the hard work and dedication of our colleagues, subcontractors, and supply chain partners, while maintaining the high quality of our product and making further improvements in the service we offer our customers.”