Login to UKBP
Commercial Property News
Bellway Q3 sales ahead of last year
Bellway, the UK's 4th largest housebuilder, today issued an Interim Management Statement for an extended Q3, the period from 1 February 2010 to 15 June 2010, prior to it's year end on July 31.
In 2008-9 it sold 4,380 homes in total. In this period it maintained a sales rate of 100 per week, which is similar to the same period last year, and forecast FY sales for 2009-10 of around 4600 units. Since margins are on an upward trend the outcome should be an improvement on last year.
Bellway, with a strong forward order book, net cash in the bank of £55 million remains well positioned to continue to deliver earnings growth.
Housebuilders have been taking advantage of lower land prices to build their land-banks and Bellway has unconditionally committed £151 million representing 2,475 plots, with heads of terms or conditional contracts agreed on a further 5,275 plots, mostly in the South.
Bellway says that the level of interest as evidenced by weekly visitor numbers and sales has shown a slight drop since the election as the government prepares the public sector for cuts and the whole population for tax hikes.
The shares responded to the news with an increase this morning of 8.5p to trade at 643.50 at 7.52.
In 2008-9 it sold 4,380 homes in total. In this period it maintained a sales rate of 100 per week, which is similar to the same period last year, and forecast FY sales for 2009-10 of around 4600 units. Since margins are on an upward trend the outcome should be an improvement on last year.
Bellway, with a strong forward order book, net cash in the bank of £55 million remains well positioned to continue to deliver earnings growth.
Housebuilders have been taking advantage of lower land prices to build their land-banks and Bellway has unconditionally committed £151 million representing 2,475 plots, with heads of terms or conditional contracts agreed on a further 5,275 plots, mostly in the South.
Bellway says that the level of interest as evidenced by weekly visitor numbers and sales has shown a slight drop since the election as the government prepares the public sector for cuts and the whole population for tax hikes.
The shares responded to the news with an increase this morning of 8.5p to trade at 643.50 at 7.52.
Tue, 15th Jun 2010