Housebuilder Bellway has reported increases in revenue and profit but has tempered the good news with warnings over potentially significant costs on building safety.
The North East-based developer, which has sites across the UK, saw underlying operating profit increase to £332.2m from £297.7m in the half year to the end of January.
Revenue rose by 3.5% to £1.78bn, up from £1.72bn as the firm said it grew new homes built to 5,694 during the year, up from 5,656 in the same period 2021.
