HOUSE builder Bellway today reported a strong set of annual results, driven by demand from buyers in the South of the country.
The Newcastle-based business said turnover rose to £1,004.2m in the year to July 31, from £886.1m, while pre-tax profits leapt by 57% to £105.3m.
In other key figures, the number of homes sold increased to 5,226 from 4,922 and the average selling price increased to £186,648 from £175,613.
Chairman Howard Dawe said: "Consumer demand for new homes has shown continued resilience and this … has enabled Bellway to deliver its third successive year of growth in volume, average selling price and operating margin.”
Bellway is proposing to increase the final dividend by 59% from 8.8p to 14.0p per ordinary share. This produces a total dividend for the year of 20.0p, an increase of 60% on 2011.