Bellway PLC
07 August 2007
Trading Update
Tuesday 7 August 2007
Bellway is today issuing a trading update for the year ended 31 July 2007 prior
to entering its close period on Thursday 16 August.
The Group is delighted to report, for the 16th consecutive year, an increase in
the total number of homes sold in the year ended 31 July. In the period Bellway
has recorded an increase in homes legally completed of more than 7% from 7,117
to 7,638. These units had an average sales price of around £174,000. Net
profit before tax will be at a record level and in line with expectations.
Bellway's long held policy of forward selling has put it again in a strong
position by securing a forward order book of £594 million on 1 August. This
represents around 45% of our increased target for the current year, a similar
figure when compared to the same time last year.
Whilst certain areas of the country remain robust, overall the market is stable,
although incentive-led. The summer months are traditionally a quiet period for
visitor levels, yet despite the recent interest rate rises, reservations
achieved during June and July have been encouraging. We look forward,
therefore, with a degree of cautious optimism to the traditionally stronger
autumn selling season.
The Group's policy of forward selling, together with an expanding divisional
network and a quality land bank, should ensure that we continue our track record
of organic growth in volumes and profits, thus enhancing shareholder value into
the future.
The preliminary results for the year ended 31 July 2007 will be announced on
Tuesday 16 October 2007.
FOR FURTHER INFORMATION, PLEASE CONTACT:
JOHN WATSON, CHIEF EXECUTIVE & ALISTAIR LEITCH, FINANCE DIRECTOR FROM 7.30 AM
ONWARDS ON 0191 2170717
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.