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Trading statements

Bellway sales rise in robust market

14 June 2017 07:17

Bellway saw strong sales demand with a 13% increase in the reservation rate to 221 per week in the period from 1 February to 4 June.

The group said the increase in housing completions for the full year to 31 July was expected to approach 10% (2016 – 8,721).

It said a robust trading performance should result in an operating margin slightly in excess of 22% (2016 – 22%) for the full financial year. Other highlights:

- Significant investment in land, with 10,250 plots contracted (2016 – 8,600 plots) and all land in place to meet next year’s growth target. - Value of forward order book of homes due for completion beyond 31 July 2017 is ahead at £900 million (2016 – £846 million). - A commitment to customer care has resulted in Bellway regaining its status as a five star housebuilder. Chief executive Ted Ayres said: "Robust market conditions, together with a clear operational focus, is enabling Bellway to continue increasing its contribution to the supply of much needed new homes.

"We have made a significant investment in land and work in progress over a number of years and this, together with a strong balance sheet and substantial operational capacity for expansion, should ensure that Bellway is well positioned to deliver further volume growth, this year and beyond.

"This successful implementation of our disciplined growth strategy is leading to ongoing enhancements in shareholder value."

Story provided by StockMarketWire.com

Related Company: BWY

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