logo
Plus   Neg
Share
Email

Bellway Issues 6-month Trading Update - Quick Facts

Bellway Plc (BWY.L) provided trading update for the period from August 1, 2011 to January 31, 2012.

The company noted that during the period, it completed the sale of 2,455 homes, an increase of 5%, driven by completions of private sales, which have risen by a healthy 15%. This increase in the proportion of private completions, combined with other changes in mix, has resulted in the average selling price of all completions increasing by 8.7%. The Board expects that the average selling price will grow further, albeit at a slower rate, during the remainder of the financial year.

Besides, operating margin continues its improvement and is set to reach double digits for the six months to January 31. According to Bellway, this rate of improvement has now slowed and although the operating margin should continue to grow, it will do so at a more sustainable pace.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A $716 billion defense policy bill easily cleared the Senate on Monday, although the legislation must still be reconciled with the version previously approved by the House. The Senate voted 85 to 10 in favor of the National Defense Authorization Act, which authorizes U.S. military spending for fiscal 2019. Voip-Pal.com Inc. has filed a lawsuit against Amazon Inc., accusing Alexa's calling and messaging services of infringing its patents. The lawsuit, filed by Voip-Pal in the U.S. District Court in Nevada, accuses Amazon's Alexa calling and messaging system of using Voip-Pal's patented technologies to direct voice/video calls and voice messages to both Amazon subscribers and non-subscribers. Canada is a step closer to becoming the first G-7 nation to legalize marijuana nationwide after the House of Commons voted to allow recreational use. The bill will now go back to the country's Senate, which had already approved a version of the bill. On Monday, the House of Commons voted 205 to 82 in favor of the Bill C-45, known as the Cannabis Act.
Follow RTT