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BELLWAY P.L.C. ( " BELLWAY " OR THE " GROUP " ) , THE NATIONAL HOUSEBUILDER , ANNOUNCES TODAY , TUESDAY 19 OCTOBER 2021 , ITS PRELIMINARY RESULTS FOR THE YEAR ENDED 31 JULY 2021 . Summary Financial strength and record order book provide platform for further growth in the years ahead ■ Revenue Gross profit ( underlying ) Gross margin ( underlying ) Operating profit ( underlying ) Operating margin ( underlying ) Profit before taxation ( underlying ) Net legacy building safety expense and exceptional items Profit before taxation Earnings per share Proposed total dividend per share Net cash ■ Year ended 31 July 2021 £ 3,122.5m £ 651.9m¹ , 4 20.9 % 1,4 £ 531.5m¹ , 4 17.0 % 1,4 £ 530.8m¹ , 4 ( £ 51.8m ) £ 479.0m 316.9p 117.5p £ 330.3m¹ Year ended 31 July 2020 £ 2,225.4m £ 422.2m1,4 19.0 % 1,4 £ 321.7m¹ , 4 14.5 % 1,4 £ 309.3m¹ , 4 ( £ 72.6m ) £ 236.7m 156.6p 50.0p £ 1.4m¹ Movement + 40.3 % + 54.4 % +190 bps + 65.2 % +250 bps + 71.6 % ( 28.7 % ) Strong recovery in profitability , supported by good market conditions and a robust balance sheet Revenue rose by 40.3 % to £ 3,122.5 million ( 2020 – £ 2,225.4 million , 2019 – £ 3,213.2 million ) , only 2.8 % below the record level achieved in financial year 2019 . + 102.4 % + 102.4 % + 135.0 % The number of housing completions rose by 34.8 % to 10,138 ( 2020 – 7,522 , 2019 - 10,892 ) . Good underlying demand across the country , with a private reservation rate of 169 per week ( 2020 – 141 , 2019 - 160 ) , an increase of 19.9 % and 5.6 % compared to the prior year and financial year 2019 respectively . Underlying profit before taxation rose by 71.6 % to £ 530.8 million ¹ , 4 ( 2020 - £ 309.3 million , 2019 - £ 662.6 million ) . A front - footed and early re - entry into the land market , with a record 19,819 plots5 contracted ( 2020 - 12,124 plots , 2019 - 13,284 plots ) , at a value of £ 1,066.0 million5 ( 2020 – £ 777.7 million , 2019 - £ 787.7 million ) , provides the opportunity for volume growth and margin recovery in the years ahead . Strong balance sheet , with year - end net cash of £ 330.3 million¹ ( 2020 £ 1.4 million , 2019 £ 201.2 million ) and committed debt facilities of £ 500 million as at 18 October 2021 , together ensure that Bellway retains strategic flexibility and can proactively respond to new investment opportunities . Proposed total dividend per share of 117.5p ( 2020 - 50.0p , 2019 - 150.4p ) , a rise of 135.0 % . Targeting ambitious future growth and increasing shareholder returns A strengthened land bank , comprising some 86,571 plots ( 2020-72,361 plots , 2019 – 68,593 plots ) , ensures Bellway has the platform to deliver its long - term growth strategy . Ambitious growth plans , supported by our strengthened land bank and programme of future site openings , with a target annual output of 12,200 homes in financial year 2023 , around 20 % above the 31 July 2021 outturn . Target to generate cumulative , underlying profit before taxation , of around £ 1.25 billion ¹ , 4 , over the next two financial years , with one - third of the after - tax amount to be returned to shareholders in dividend payments . Substantial capacity to deliver further , ongoing volume growth and increase output , over several years , to between 16,000 and 18,000 homes per annum , thereby generating attractive , long - term returns for shareholders . Over the medium - term , the Board are targeting a sustainable , normalised operating margin , before considering any potential benefit of future house price inflation , less cost inflation , of between 18 % ¹ , 4 and 19 % ¹4 .