06:12 ET<\/span>
\n<\/span><\/p>\nUK house builder Bellway has posted a 26% rise in half-year profits, but admitted “consumer confidence remains fragile”.<\/p>\n
The firm reported pre-tax profits of \u00a324m for the six months to the end of January, up from \u00a319m last year.<\/p>\n
“Bellway has exceeded its targets,” chairman Howard Dawe said, after the group completed the sale of 2,332 homes, a rise of almost 4%.<\/p>\n
The interim dividend for shareholders will increase by 12%.<\/p>\n
“Visitors and reservations have returned to the pattern of a traditional spring market,” said Mr Dawe.<\/p>\n
Everton purchase<\/span><\/p>\nThe company said there had been strong growth in its northern divisions and its average sale price had increased by just over 6% to \u00a3145,174.<\/p>\n
Its average sale price in the south of the country had risen by more than double this, at 14%, however.<\/p>\n
The company said that one of its most notable purchases in the last six months had been the former training ground of Everton Football Club. <\/p>\n
British house builders have been gearing up for a tough year as public spending cuts and weaker consumer confidence test the market.<\/p>\n
But Bellway expects 2011 to go well. <\/p>\n
“Expectations for this financial year are that profits will grow by a factor of maybe a third,” said finance director Alistair Leitch.<\/p>\n
On Tuesday, the Bank of England said 46,967 mortgages were approved for house purchases during February, up 815 on January.<\/p>\n
Earlier this month, rival house builder Berkeley said it had seen a 25% jump in sales reservations compared with figures from 2010.<\/p>\n<\/p><\/div>\n<\/p>\n
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