Housebuilder issues trading statement for past six months

Housebuilder Bellway has improved margins, sales and reservations over the past six months, the firm said in a trading statement for the six months to 31 January.

The firm said it expected its operating margin to exceed 12.5% for the period - up from 10.1% the previous year - and for this to 鈥渃ontinue to improve throughout the rest of the financial year鈥�.

Bellway also sold 5.8% more homes over the period - 2,597, up from 2,455 the previous year - and at a greater average price - 拢187,000 compared to 拢182,753.

The board 鈥渁nticipates that the average selling price will continue its upward trend for the remainder of the financial year鈥�.

The firm also said the number of reservations per week hit a record of 97, up from 89, which it said showed 鈥渄emand for new homes remains resilient鈥�.

It said mortgage schemes including NewBuy and New Home had boosted demand and that they accounted for 11% of reservations taken.

The order book also grew to 2,467 unites (拢453m), up from 2,359 units (拢423m).

 

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