Bellway revenue and completions fall by a third

Bellway’s revenue and house completions have fallen by a third over the past six months. Revenue for the six months to 31 January fell from £1.8bn to £1.25bn, in line with the board’s expectation. House completions dropped from 5,695 for the same period last year to 4,092. The housebuilder’s forward order book was also down, at 3,970 homes, compared with 5,108 homes for H1 2023, with a value of just over £1bn, down from nearly £1.4bn. Bellway said it was well positioned to increase this order book, and expects full-year output of around 7,500 homes, which will be a marked fall on last year’s 10,945 homes. Jason Honeyman, group chief executive, said: “Bellway has delivered another resilient performance in a period of challenging trading conditions. We have maintained balance sheet resilience and, supported by the strength of our landbank, Bellway remains well-placed to capitalise on future growth opportunities and will continue to play an important role in increasing housing supply in the years ahead.”