LONDON (dpa-AFX) - Bellway p.l.c. (BWY.L) reported that its housing revenue for the year ended 31 July 2022 rose by 13% to more than 3.5 billion pounds from the prior year. The growth has been primarily driven by the increase in volume output, with completions rising by 10.5% to 11,198 units.
The overall average selling price rose by 2.6% to 314,400 pounds from the prior year, driven by a higher proportion of private completions, which rose to 82% of the total. In addition, underlying house price inflation has had some upward effect on the price achieved of sales taken in the period.
The company still expects the group to deliver further volume growth, in financial year 2023, to an annual record output of around 12,200 homes, with the timing of outlet openings expected to drive a second half weighting for completions.
The company now expects the average selling price to be over 300,000 pounds in the year ending 31 July 2023.
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