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Mon December 04 2023

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Bellway reports growth

9 Dec 11 Housebuilder Bellway says that its sales have continued to rise despite the turmoil in the financial markets.

It said that reservations over the past four months have been up 14% on the same period of 2010 and average selling price up 7%. Prices are up because of a change in the product mix, rather than market improvement, however.

Bellway has continued to invest in land, spending £71m on land and land creditors and contracted to acquire around 1,400 plots since 1 August.

In an interim management statement the board said that it anticipates legal completions for the six months ending 31 January 2012 to be up 5%, with an operating margin at least as good as that achieved in the previous six months of nearly 10%.

The company said that it was well positioned to continue its three pronged strategy of volume, average selling price and operating margin growth.  The order book at 30 November was £458m, up from £440m a year before.

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