British home builder Bellway Plc (BWY.L) reported Tuesday higher Housing revenue and completions in fiscal 2025. Underlying operating margin is expected to approach 11 percent in the year, higher than last year's 10 percent.
In its trading update for the year ended July 31, the company reported that housing revenue climbed 17 percent to over 2.76 billion pounds from last year's 2.36 billion pounds.
Total housing completions increased 14.3 percent to 8,749 homes from last year's 7,654 homes. The increase was driven entirely by growth in private output, and the proportion of private completions rose to a more normalised level of 79 percent of the total, compared to 75 percent last year.
Overall average selling price grew to around 316,000 pounds from 307,909 pounds a year ago, with the increase due to the higher proportion of private completions together with some geographic and mix changes.
The company is scheduled to release its fiscal 2025 results on October 14.
Looking ahead, Bellway stated that despite the softer market conditions in recent months, it has entered the new financial year with a healthy order book.
For fiscal 2026, the company expects to maintain broadly flat average outlet numbers.
Jason Honeyman, Group Chief Executive, said, "Bellway has delivered a solid performance despite ongoing headwinds for our industry. There was good growth in volume output and an improvement in underlying margin which are set to drive a strong increase in profits for FY25. We have entered the new financial year with a healthy forward order book and outlet opening programme and, if market conditions remain stable, we are well-positioned to deliver further growth in FY26."
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