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Investing.com -- Bellway Plc (LON:BWY) swung to a net cash position of £42 million at the end of fiscal 2025 from net debt of £10.5 million a year earlier, as housing completions and revenue came in ahead of guidance, the company said in a stock exchange filing on Tuesday.
The homebuilder completed 8,749 homes in the year ended July 31, up 14.3% from 7,654 a year earlier.
The average selling price rose to £316,000 from £307,909, reflecting a higher proportion of private completions and changes in geographic and product mix.
Housing revenue increased 17% to more than £2.76 billion from £2.36 billion in 2024. The underlying operating margin is expected to approach 11%, compared with 10% the previous year.
The private reservation rate per outlet per week, including bulk sales, rose 11.8% to 0.57 from 0.51. Excluding bulk sales, the rate was 0.52, up from 0.49.
The forward order book stood at 5,385 homes valued at £1.52 billion, compared with 5,144 homes worth £1.41 billion a year earlier.
Bellway traded from an average of 246 outlets during the year, with 249 outlets at July 31, compared with 245 and 250, respectively, the prior year.
The overall reservation rate, including social homes, increased 6.2% to 171 per week, while the cancellation rate was 13%, down from 14%.
The U.K.-based company contracted to purchase 8,120 plots across 51 sites during the year, valued at £567 million, up from 4,621 plots worth £345 million in 2024.
Bellway also entered into option agreements to buy 30 sites, compared with 35 sites the year before.
Bellway said it expects to deliver around 9,200 homes in fiscal 2026, based on a private reservation rate per site per week similar to the 0.57 achieved in the past year.