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Bellway Trading Update

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feinmann
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Bellway Trading Update

#146303

Postby feinmann » June 17th, 2018, 11:57 am

Bellway is today (12 June) issuing a trading update in respect of the period from 1 February to 3 June 2018.

Highlights

For the full year, anticipated volume growth of around 600 homes should enable the Group to complete the sale of in excess of 10,000 homes for the first time in its history.

In addition, an expected average selling price in excess of £280,000 and an anticipated operating margin of around 22%, should contribute to another year of substantial earnings growth.

A responsible, sustainable and customer focussed approach to growth has resulted in Bellway maintaining its status as a five star housebuilder2 for the second year in succession.

Market conditions remain favourable, with the Group achieving a 5.4% increase in the reservation rate in the period to 233 per week (2017 – 221 per week).

The forward sales position is excellent, with the value of the order book 7.8% ahead at £1,703 million (4 June 2017 – £1,580 million).

Substantial investment in land, with £678 million spent on land and land creditors since 1 August (2017 – £586 million), securing future growth at attractive rates of return.

https://www.investegate.co.uk/bellway-p ... 0000PD672/

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