6th Dec 2007 07:00
Bellway PLC06 December 2007 Bellway p.l.c. Interim Management Statement 6 December 2007 Following the implementation of the Transparency Directive on 20 January 2007,Bellway presents its first Interim Management Statement (IMS) today. It is anticipated that Bellway's strong forward sales position at 31 July willallow the company to deliver modest volume growth for the six month periodending 31 January 2008, albeit at a slightly reduced margin when compared toJanuary 2007. Since 16 October, the date of the preliminary announcement,reservations have fallen below last year's levels and for the four months ended30 November, were 7% lower than the same period last year. Notwithstandingthis, the order book is £677 million, compared to £689 million at the end ofNovember 2006, resulting in 70% of our revised target having already beenachieved. The Group believes that it can still deliver a small increase involume supported by a rise in the number of outlets available in early 2008. Whilst the supply side of house building remains constrained by planning,product and construction starts, the demand side is now being affected by a lackof consumer confidence and the economy generally. The size of the currentforward order book puts Bellway in a strong position but the final outcome forthe year ending 31 July 2008 will have to be reviewed in light of conditionsprevailing in spring 2008. FOR FURTHER INFORMATION, PLEASE CONTACT: JOHN WATSON, CHIEF EXECUTIVE & ALISTAIR LEITCH, FINANCE DIRECTOR FROM 7.30 AMONWARDS ON 0191 2170717 Ends This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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