2nd Feb 2007 07:00
Bellway PLC02 February 2007 Bellway plc Trading Update 2 February 2007 For the six months to 31 January the Group's legal completions were 10% ahead at3,264 homes compared to 2,958 for the same period last year. Whilst socialhousing completions increased slightly, the majority of the increase has beenachieved through private home sales. The average selling price of homes sold isslightly ahead at around £173,000 compared to £167,000 in 2006. Against a background of a stable but competitive market place, reservations haveincreased in the period by some 6% compared to last year, resulting in the Groupalready securing over 80% of this year's targeted volume. The Group is tradingfrom more outlets and this has contributed to the order book at 31 January 2007increasing to £653 million compared to £562 million at 31 January 2006. Withthe operating margin broadly similar to last year's 19%, we anticipate a newrecord operating profit for the period exceeding last year's figure of £96.2million. With the key Spring selling period about to commence, it is too early to predictany change in sentiment following recent interest rate movements. However, withthe strength of our forward sales, combined with the Group's traditionally lowto middle market profile, the Board remains confident of reporting anotherrecord performance for the twelve months ending 31 July. The preliminary results for the period ended 31 January 2007 will be announcedto the London Stock Exchange on Tuesday 17 April. FOR FURTHER INFORMATION, PLEASE CONTACT: JOHN WATSON, CHIEF EXECUTIVE ON 07855 337007 ALISTAIR LEITCH, FINANCE DIRECTOR ON 07855 337001 OR FROM 8.30 AM ONWARDS ON 0191 2170717 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Bellway