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Bellway growth relies on marketing

FINANCE

BELLWAY is planning to start marketing from 10 per cent more sales outlets over the coming weeks to help it achieve next year's growth plans, the company said this week.

The firm, which has increased its land bank with planning permission by 1,800 plots to 23,000 plots, said its Scottish, north-eastern and Thames Gateway divisions have thrived in their local markets. It is forming a south Midlands division to cater for Warwickshire and a major regeneration scheme. The group order book is strong at £715 million, with over 92 per cent of its target for the year to July secured.

Bellway's pre-tax profits fell to £87.8 million for the half to January, down from £89.7 million. Homes sales increased slightly to 2,958 but the margin slipped from 19.6 per cent to 19 per cent.