Bellway upbeat after surpassing targets

The house builder said it exceeded targets in the first half of the financial year with 2,332 sales completed compared to 2,247 in the first half of last year.

The average sale price in the North rose by 6% to £145,174. The volume of houses built in the North grew by almost 28%.

The North West sales office is in Hunts Cross, Liverpool. Bellway is headquartered in Newcastle upon Tyne.

Total group turnover for the six months to 31 January 2011 reached £407.9m, up from £360.8m in the half-year to 31 January 2010. Pre-tax profit for the period was £24.0m (2010 – £19.0m). Net asset value per ordinary share was 866p (31 July 2010 – 856p).

Chairman Howard Dawe said: "Last week's Budget announcements regarding our industry are to be welcomed and our appetite for land purchase continues.

"Visitors and reservations have returned to the pattern of a traditional spring market but consumer confidence remains fragile."

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