Bellway upbeat as housing recovery continues

8th Aug 2013 07:33

UK house builder Bellway reported improved sales and margins and underlined its confidence in future trading as opened new divisions in the Thames Valley and Manchester.The group completed the sale of 5,652 homes for the year to July 31st, up 8.2% from the same period a year earlier. The average selling price increased 3% to around £193,000. As a result, housing revenue is expected to be around £1,090m, an increase of 12% from the year before."The new homes market has benefited from improving consumer confidence throughout the year, having been supported by government schemes in the form ofNewBuy and Help to Buy," it said in a statement.Bellway said all geographic regions have seen improved performance while reservations in the London market are up 19% from a year earlier.The house builder's order rose to 3,525 plots from 2,533 in 2012 with a value of £679.5m compared to £441.2m a year earlier."Further growth in volume and margin, together with a continuing focus on return on capital employed, combined with a progressive dividend policy, should enable the group to deliver further enhancements."CJ