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Bellway on target for 10% annual growth

5 Aug 10 Bellway is optimistic about achieving a 10% growth in volumes in the next financial year, after releasing a positive trading statement for the 12 months to 31 July 2010.

Bellway is optimistic about achieving a 10% growth in volumes in the next financial year, after releasing a positive trading statement for the 12 months to 31 July 2010.

The house builder completed the sale of 4,595 homes (2009: 4,380), an increase of almost 5%, at an average sales price of around £163,000 (2009: £154,005).

Bellway said that in 2010 to date, “the market would appear to have returned to its more usual profile of a spring peak followed by a quieter summer period”.

It added: “Concerns still exist in the wider economy but... provided the autumn market follows its usual pattern, then a combination of increased outlets and a current order book of £421m (2009: £368m) could help the Group achieve its aspiration of producing volume growth in 2010/2011 of up to 10%.”

Bellway said it continues to be active in the land market, mainly in the south, but “is beginning to see more opportunities emerge from its northern divisions”.

The firm has net cash of £66m.

Its preliminary results for the year to 31 July 2010 will be announced on Tuesday 19 October.

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