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Bellway half-year profit falls; sees strong demand for new homes

Reuters
FILE PHOTO: A Bellway sign is seen at a housing construction site in London

(Reuters) - Housebuilder Bellway Plc on Wednesday said it was experiencing strong underlying demand for new homes, as the sector stands to benefit from a slew of incentives announced in the UK budget earlier this month.

The company, which builds everything from one-bedroom apartments to six-bedroom family homes and luxury penthouses, reported pre-tax profit of 280.2 million pounds ($384.29 million) for six months to Jan. 31, compared with 291.8 million pounds a year earlier.

($1 = 0.7291 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich)