5th Jun 2015 06:32
LONDON (Alliance News) - Bellway PLC on Friday said it expects its housing completions to rise at the close of its financial year, with its operating margin set to improve and its forward sales book strengthening.
The FTSE 250-listed housebuilder said it expects housing completion for the year to the end of July to be around 850 units higher than the 6,851 it reported a year earlier. The company said its full-year operating margin should improve by around 300 basis points to over 20% in the year, up from 17.2% a year earlier.
Bellway also said its forward sales position going into the new financial year is set to be around 22% higher in value year-on-year at GBP1.27 billion, up from GBP1.04 billion at the end of its 2014 financial year.
"Positive market conditions, implementation of our strategy for growth and a continuing focus on return on capital employed are allowing Bellway to deliver a further increase in volume and a significant rise in profitability. Our disciplined investment in land, alongside plans to open a seventeenth operating division early in the next financial year, ensure that the group is well positioned to create additional value for shareholders," said Ted Ayres, Bellway's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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