Bellway PLC
02 February 2007
Bellway plc
Trading Update
2 February 2007
For the six months to 31 January the Group's legal completions were 10% ahead at
3,264 homes compared to 2,958 for the same period last year. Whilst social
housing completions increased slightly, the majority of the increase has been
achieved through private home sales. The average selling price of homes sold is
slightly ahead at around £173,000 compared to £167,000 in 2006.
Against a background of a stable but competitive market place, reservations have
increased in the period by some 6% compared to last year, resulting in the Group
already securing over 80% of this year's targeted volume. The Group is trading
from more outlets and this has contributed to the order book at 31 January 2007
increasing to £653 million compared to £562 million at 31 January 2006. With
the operating margin broadly similar to last year's 19%, we anticipate a new
record operating profit for the period exceeding last year's figure of £96.2
million.
With the key Spring selling period about to commence, it is too early to predict
any change in sentiment following recent interest rate movements. However, with
the strength of our forward sales, combined with the Group's traditionally low
to middle market profile, the Board remains confident of reporting another
record performance for the twelve months ending 31 July.
The preliminary results for the period ended 31 January 2007 will be announced
to the London Stock Exchange on Tuesday 17 April.
FOR FURTHER INFORMATION, PLEASE CONTACT:
JOHN WATSON, CHIEF EXECUTIVE ON 07855 337007
ALISTAIR LEITCH, FINANCE DIRECTOR ON 07855 337001
OR FROM 8.30 AM ONWARDS ON 0191 2170717
This information is provided by RNS
The company news service from the London Stock Exchange
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