Bellway, a UK house builder, has reported a jump in annual pre tax profits by 50%.

Bellway claim a stabilised market is the reason they have achieved profits of £67.2m, coupled with a tighter rein on the control of costs and higher sales. They called trading levels across the UK as ‘encouraging’, with reservations in the first nine weeks of the new financial year holding at a healthy 11% on last year.

Total turnover is up by 15% in the year to 31^st July.

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