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FTSE 250 housebuilder Bellway (LON:BWY) saw its shares rise by 1.41% to 2,868p (as of 12:15 BST) after the company reported a 14.3% increase in pre-tax profits for the year ended 31st July. Revenues for the year exceeded £2.95 billion as the company sold more than 10,000 homes in a year for the first time.
The firm’s order book stood at £1.47 billion at the end of September and management are confident that they have a solid platform for the year ahead despite risks to consumer confidence. The board has proposed that the dividend be increased by 17.2% to 143p.