Friday, Bellway Plc (BWY.L), in its trading update, said the Group has completed the sale of 2,247 homes at an average selling price of £156,000, with the operating margin for the six months being around 6%. The margin for the full year is estimated to be at the higher end of the 6% - 7% range. It is expected that there will be no exceptional items included in the interim results.
The order book at 31 January stood at £390 million, representing 2,506 homes of which 706 are for the following financial year. The Group said it has now sold or reserved 92% of this year's current target and the next six weeks' reservation pattern will determine whether this target will be increased. Reservations in the first six months have averaged 85 per week which compares to 65 in the same period last year and 104 from February to July 2009.
For comments and feedback: editorial@rttnews.com