The UK’s fourth largest house builders, Bellway, have announced record profits of £1.4 million pounds and claim the bouyant Scottish housing market helped them achieve it.

Turnover for the group, which focuses on the lower end of the market, stood at £1,354 million last year, soaring £114 million up on last year.

Finance Director, Alastair Leitch said: "I believe this is due to the planning system in Scotland, which allows us to build three to four bedroom detached houses, which is what customers want."

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Established in 1946, The Bellway Group has provided more than 100,000 homes and is one of the largest house builders in the UK with operations spanning the length and breadth of the country.

The company has two Scottish divisions, which have increased their output to 840 homes, capitalising on the present market conditions in Scotland.

Bellway employs over 2,000 people and builds two-thirds of its homes on brownfield or former industrial sites.

The company is presently valued at around 1.2 billion pounds and despite the predicted slow down in house prices announced last week by the Institute of Chartered Surveyors, Bellways order book of £667 million looks promising for the coming year.

(DW)