HIGHLIGHTS
- Number of homes sold increased to 5,226 (2011 - 4,922)
- Average selling price increased to £186,648 (2011 - £175,613)
- Total Group turnover increased to £1,004.2m (2011 - £886.1m)
- Operating margin increased to 11.4% (2011 - 8.5%)
- Profit before tax increased by 57% to £105.3m (2011 - £67.2m)
- Earnings per share increased by 58% to 65.5p (2011 - 41.5p)
- Total dividend increased by 60% to 20.0p (2011 - 12.5p)
- Net asset value increased to 933p (2011 - 888p)
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".
He added that the growth "has been driven by the Group's strong performance in the south of the country" … and "has been further strengthened due to the increase in private completions".
He concluded "The Board intends to maintain its strategy of growth in volume, average selling price and margin" … "whilst maintaining annual dividend payments to shareholders commensurate with earnings growth".
