Bellway results announced

Housebuilder Bellway plc has announced interim results for the half year ended January 31.

They include completed sales of 2455 homes, an average price of £182,753, total group turnover of £458.6m (up from £407.9m in the same period for 2011), profit before taxation up 69.2% to £40.6m, an interim dividend of 6p, net asset value per ordinary share 902p, earnings per share of 25.2p and a forward order book at March 11 of £498.5m.

Chairman Howard Dawe said: “Bellway has completed another six-month period of growth in volume, selling price and operating margin” as “the group completed the sale of 2455 homes … an increase of 5.3% … resulting in profit before tax of £40.6 million and growth in earnings per share to 25.2p.

“I am, therefore, delighted to announce that the interim dividend will be increased substantially by over 62%.

“There remains an underlying demand for our homes and the group intends to continue its three-pronged strategy of delivering volume, selling price and operating margin growth.”