Bellway’s profit jumps amid soaring output
Bellway has reported a 12 per cent rise in profit, alongside a significant boost in its output – in an indication that the housebuilding sector is seeing a rebound.
Profit before taxation has risen to £150.2m, from £134.2m last year.
The firm reported 4,577 housing completions in the half-year to January – up from 4,092 in 2024.
Jason Honeyman, Bellway’s chief executive, said: “Bellway has delivered a strong first half performance with good growth in volume output and profits.”
“Underlying demand for our homes is healthy and we have been encouraged by the improvement in customer enquiries and reservations since the start of the new calendar year.”
Honeyman has restated the firm’s intention to deliver 8,500 homes – up from 7,654 in 2024 – and the Bellway boss said he expected further output growth in the 2026 financial year.
Housebuilding recovery
In February, the firm reported strong growth in the number of completions over the previous six months.
In an indication of recovery in the housebuilding sector, the company saw an 11.9 per cent rise in completions, with more than 4,500 properties completed with an average selling price of £310,600.
This comes just months after Bellway saw its profits plunge by 44 per cent in October – though Honeyman noted at the time that customers were “delaying decisions” about housing due to an uncertain market, and that the firm would return to growth.
Meanwhile, Ibstock chief executive Joe Hudson told Morning Wire’s Boardroom Uncovered in October that the housebuilding sector was poised for recovery, but rebuilding supply chains will take time
“I am confident that, given our operational strengths and land bank depth, we remain very well-positioned to capitalise on the positive long-term fundamentals of the UK housebuilding industry, and Bellway will continue delivering the high-quality new homes the country needs,” Honeyman added.