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Bellway sees recovery spread

8 Aug 13 House-builder Bellway says that it has seen all UK regions improve this year and reservations overall are up 27% on this time last year.

In a pre-close trading update for the financial year to 31 July 2013, Bellway said that the market for new homes had benefitted from improving consumer confidence throughout the year, underpinned by the government’s NewBuy and Help to Buy schemes. Bellway has booked 830 reservations with Help to Buy.

During the year, Bellway sold 5,652 homes, up 8% on 2012’s 5,226. Average selling price was up 3% to around £193,000 (2012: £186,648). Thus its housing revenue is expected to be up 12% to £1,090m when it reports its results in October.

“Whilst there are some indications of minor cost pressures at a local level,” the company said, “these have not had a significant effect on the Group's operating margin which will exceed the 11.4% achieved last year by around 200 basis points.”

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MPU

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