UK builder Bellway reports record revenue as house prices climb

Bellway reported a 13% increase in revenues to £3.5bn and 10.5% growth in completions to 11,198. Photograph: Christopher Thomond/The Guardian

Bellway has reported a record year of sales as rising house prices offset increasing energy and building costs, and the housebuilder predicted a bumper 2023 despite higher interest rates and the cost of living crisis.

The company reported a 13% increase in revenues to a record £3.5bn and 10.5% growth in completions to a record 11,198 in the financial year to the end of July.