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Bellway HY Number Of Homes Legally Completed Up 6.3%

Bellway p.l.c. (BWY.L), in a trading update for the six months ended 31 January 2018, said that the number of homes legally completed rose by 6.3% to 4,741 units, with all geographic regions in which the Group operates performing well.

John Watson, Executive Chairman, said, "Bellway is continuing to make a sizeable contribution to the supply of much needed new homes and has delivered a further increase in both volume and average selling price in the six month trading period."

The average selling price of homes sold rose by almost 7.8% to 276,000 pounds, principally as a result of investment in higher value locations throughout the country, where stronger demand and robust pricing has influenced land acquisition over recent years.

As a result of the strong trading performance, housing revenue for the six months ended 31 January is expected to increase by over 14% to around 1.3 billion pounds, compared to 1.14 billion pounds in the previous year.

The forward order book, comprising 4,629 homes, has risen in value by 15.7% to 1.297 billion pounds.

by RTT Staff Writer

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