Trading update

Bellway PLC 10 August 2001 TO: CITY EDITORS Embargoed: 07:00 Friday 10 August Bellway plc Trading update Bellway plc wishes to advise that its results for the year ended 31 July 2001 will be announced on Tuesday 16 October and to inform investors of current trading. The Board confidently anticipates another highly satisfactory set of results for the year with a record profit before tax. As predicted in the Chairman's Interim Statement, the number of homes sold was at a similar level to the previous year with a higher average selling price. This resulted in record turnover, the tenth annual increase in succession. Bellway is trading well with a high return on capital employed compared to its peer companies. Mortgage lenders offer a wide range of attractive products which, following the recent reduction in interest rates, are at their most affordable for decades. Demand for our homes remains strong and current reservations are similar to last year's record levels. Constraints in the planning system continue to postpone the start of our developments, however this can be advantageous in providing more time to maximise each site's potential. The Group continues to be successful in sourcing, purchasing and expediting desirable developments, examples of which can be found in many locations throughout the UK. The Board remains focused on developing in areas of high demand where the return on capital employed and the operating margin meet our acquisition criteria. The Board is proud of its achievements and is confident that it will continue its enviable track record. For further information please contact John Watson, Chief Executive or Alan Robson, Finance Director of Bellway p.l.c. on 0191 217 0717

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Bellway (BWY)
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