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11 Jun 2019 | 07:22

Bellway reports 'strong' sales amid 'positive' spring selling season

Homebuilder Bellway reported 'strong sales' during the February to June period, driven by a 'positive' spring selling season amid ongoing demand for affordable housing and low interest rates. For the period from 1 February to 2 June 2019, the company reported strong sales demand, with a 4.7% increase in the reservation rate to 244 per week, from 233 per week last year. The company said 10,620 plots were contracted during the period, up from 8,942 plots last year, ensuring all land was in place to meet next year’s growth targets. The forward order book remained 'strong,' with the number of plots rising by 2.7% to 6,312 homes, leaving the company 'well placed' to deliver further earnings growth this financial year, in line with the management expectations, Bellway said. 'This has been another successful trading period for the Group, during which we have made further disciplined investment in order to grow the number of sales outlets and build upon last year’s strong trading performance,' said Jason Honeyman, Chief Executive. 'Customer satisfaction remains high and this has helped secure our position as a five-star home builder for another year.' 'Going forward, we are on track to deliver further earnings growth this financial year and beyond that, our strong balance sheet ensures that Bellway is in a good position to continue its long term growth strategy.'

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