7th Aug 2015 06:16
LONDON (Alliance News) - FTSE 250-listed housebuilder Bellway PLC on Friday said it sold more houses at higher prices in its 2015 financial year and said its forward order book leaves its looking strong moving into the new year.
The company said it sold 7,752 homes in the year to the end of July, up 13% from the 6,851 it sold a year earlier, with the average selling price of those homes rising to GBP224,000 from GBP213,182.
Bellway said its operating margin for the year is set to rise by around 300 basis points to over 20%, from 17.2% a year earlier.
The group said it has 4,568 homes in its forward order book, up from 4,363 at the end of its 2014 financial year, with a total value of GBP1.09 billion, up from GBP924.3 million.
"The group has continued to trade well, against a backdrop of favourable market conditions, delivering a record number of legal completions, whilst further adding to an already strong forward order book. We have made a substantial investment in attractive land opportunities and the group has the balance sheet and operational capability to invest further, thereby enabling Bellway to continue delivering additional and much needed new homes," said Chief Executive Ted Ayres.
By Sam Unsted; [email protected]; @SamUAtAlliance
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