Sales and completions boost for house builder
Bellway has reported an increase in sales and a higher proportion of private completions.
The house builder, in a trading update for the period 1 August 2011 to 31 January 2012, today reported the sale of 2,455 properties, a 5 per cent increase on the 2,332 reported the same period in 2011. Private sales increased by 15 per cent, as the company focuses more on the private market.
The update, which comes ahead of the publication of the company’s interim results next month, predicts that its operating margin will have reached double figures for the six months to 31 January, up from 6.9 per cent currently.
The statement said: ‘The spring selling season is about to commence and last year provides a challenging comparison in terms of reservations.
Nevertheless, with visitor levels up by around 20 per cent since the beginning of January and with the government’s new mortgage indemnity guarantee scheme about to be launched, early indications are that the housing market remains resilient.’