Bellway has announced it expects to complete more homes than its previous guidance this year as it releases its half-year results.
The housebuilder reported that it built 4,702 homes in the six months to 31 January, an increase from 4,577 for the same period the previous year. As a result, it now expects to surpass its original predictions of 9,200 completions for the full year and achieve between 9,300 and 9,500. For the previous full year, Bellway recorded 8,749 completions.
During the period, the housebuilder saw its turnover rise to £1.5billion, up 6.3%, but its pre-tax profit fell marginally to £139.9million from £140.8million.
Despite the positives, Bellway remains wary of the impact that the Iran War could bring, but remains confident that the company will continue to operate from a strong position.
Jason Honeyman, chief executive of Bellway, commented: “Bellway has delivered a robust first half performance in a challenging market. While our industry continues to face several headwinds, we have seen an improvement in customer demand and reservations since the start of the new calendar year. At this stage, the situation in the Middle East has not had a material impact on trading and, supported by our forward order book, we are on track to deliver FY26 underlying operating profit within the range of £320million – £330million.”
“The ongoing conflict in the Middle East heightens the risk of both inflationary cost pressures and an impact to customer demand, and we have already seen volatility return to the mortgage market. Notwithstanding this, I am confident that our self-help and drive for capital efficiency will help mitigate the impact on our strategy to increase cash generation and shareholder returns.”
“Bellway has a strong balance sheet and land bank, and under stable market conditions, the Group is well-positioned to continue delivering volume growth and much-needed high-quality new homes in the years ahead.”
Bellway report that its private reservation rate per outlet per week stood at 0.47 for the half year, down from 0.51 in 2025. However, its private reservation rate excluding bulk sales rose slightly to 0.46 from 0.45.
The Group traded from an average of 244 outlets during the period, down from 248 in 2025, matching expectations, and finished the period operating from 238 outlets.
During the half year, Bellway opened its new timber frame facility, Bellway Home Space, and has now started supplying its divisions with frames for planned housing completions in the second half of the financial year.
