By Costas Pitas
LONDON: British housebuilder Bellway posted better than expected full-year profit on Tuesday and said that demand for new homes has remained resilient since Britons voted to leave the European Union.
Bellway, which builds about half of its homes in London and the south of England, reported pretax profit up 41% to 498 million pounds ($620 million) in the year to July 31, marginally ahead of forecasts in a Thomson Reuters poll of analysts.
“Notwithstanding the risks to the wider economy following the result of the EU referendum, the ongoing demand for new homes across the country is strong, supported by a low rate of unemployment and good availability of affordable mortgage finance,” Bellway Chairman John Watson said on Tuesday. ($1 = 0.8042 pounds) ( Editing by David Goodman)
Source: Reuters