7th Aug 2007 07:00
Bellway PLC07 August 2007 Trading Update Tuesday 7 August 2007 Bellway is today issuing a trading update for the year ended 31 July 2007 priorto entering its close period on Thursday 16 August. The Group is delighted to report, for the 16th consecutive year, an increase inthe total number of homes sold in the year ended 31 July. In the period Bellwayhas recorded an increase in homes legally completed of more than 7% from 7,117to 7,638. These units had an average sales price of around £174,000. Netprofit before tax will be at a record level and in line with expectations. Bellway's long held policy of forward selling has put it again in a strongposition by securing a forward order book of £594 million on 1 August. Thisrepresents around 45% of our increased target for the current year, a similarfigure when compared to the same time last year. Whilst certain areas of the country remain robust, overall the market is stable,although incentive-led. The summer months are traditionally a quiet period forvisitor levels, yet despite the recent interest rate rises, reservationsachieved during June and July have been encouraging. We look forward,therefore, with a degree of cautious optimism to the traditionally strongerautumn selling season. The Group's policy of forward selling, together with an expanding divisionalnetwork and a quality land bank, should ensure that we continue our track recordof organic growth in volumes and profits, thus enhancing shareholder value intothe future. The preliminary results for the year ended 31 July 2007 will be announced onTuesday 16 October 2007. FOR FURTHER INFORMATION, PLEASE CONTACT: JOHN WATSON, CHIEF EXECUTIVE & ALISTAIR LEITCH, FINANCE DIRECTOR FROM 7.30 AMONWARDS ON 0191 2170717 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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