BELLWAY forecast better than expected full-year profits yesterday after achieving most of its annual sales target six months early.
The housebuilder, based in Newcastle, said trading remained strong across all areas, with 86 per cent of its sales target for the financial year already met.
Bellway said that it expected its performance for the 12 months to July 31 to exceed market expectations of profits of £183.9m. That would be another record for Bellway, after profits for the previous year of £169.3m.
Updating investors on its half-year performance, Bellway said the number of homes sold in the period grew by 10.4 per cent to 2,728.
The average selling price was about £154,000, an increase of 6.5 per cent on a year earlier. The company said prospects for the rest of the financial year appeared strong, with a forward order book of £542m - 17.5 per cent up on a year earlier.
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