House building firm Bellway has reported a 28.3% increase in gross profit in its half year interim results.

However, the company added that a lack of affordable mortgages are a constraint on the housing market.

At the end of January 2013, the firm's gross profit reached £89.7m; up from £69.9m at the end of January 2012.

Its revenue also increased 9.6% from £458.6m to £502.5m at the end of January 2012.

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In Scotland, Bellway completed 180 home sales in the six months, compared with 165 for the same period the previous year. The average selling price was £175,000.

This was a slight increase from a year ago.

Finance Director Keith Adey said: "The improvement in the north has largely come about through investment in sites. In this current period we have opened a few more sites in the north rather than the south."

He added that during that period, Bellway completed "just over a dozen" sales at its Broomhouse site near Glasgow, and its Kirkliston development to the west of Edinburgh is also doing well.

(JP/CD)