3rd Feb 2005 07:00
Bellway PLC03 February 2005 Bellway p.l.c. Trading Update Thursday 3 February 2005 Bellway is pleased to announce that in the six months to 31 January 2005, salesof new homes were 2,930, up from 2,728, an increase of over 7% compared to thesame period last year. These sales were achieved at an average selling price ofaround £165,000, up from £156,900, still one of the lowest in the industry.During the period we increased both the number of private homes sold and salesto Housing Associations. The operating margin is likely to be slightly ahead ofthe 18.5% achieved in the six months to January 2004. Although the Group is experiencing a weaker market compared with theexceptionally strong conditions of last year, activity levels have returned to amore sustainable level and the fundamentals of the market remain encouraging.Bellway's policy of forward selling has resulted in the Group already securingover 86% of this year's sales target of around 7,000 homes. We anticipateselling from around 10% more sites over the next six months and this combinedwith our continuing policy of forward selling should satisfy our growthaspirations. The forward order book currently stands at £560 million compared to £542 millionat this time last year. As the Group enters the second half of the financial year its wide geographiccoverage, coupled with the previously stated policy of serving the lower tomiddle end of the market, should ensure that Bellway delivers record annualprofits for the ninth year in succession, in line with market expectations. The results for the six months to 31 January 2005 will be announced to the StockExchange on Tuesday 19 April. FOR FURTHER INFORMATION, PLEASE CONTACT JOHN WATSON, CHIEF EXECUTIVE OR ALISTAIRLEITCH, FINANCE DIRECTOR ON 0191 217 0717 FROM 8AM ONWARDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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