Summary
Housebuilder Bellway announced its interim figures to the market. The numbers were towards the top end of market expectations and pre- tax profit for the period recorded a healthy increase of 14.8%. The number of property completions was also up and Bellway's forward order book at the end of March, was pounds 732m which accounts for around 95% of this year's target volume. However, the management noted that the market remains competitive and more of the group's transactions included buyer incentives.
Bellway found that there was strong demand for its properties priced below pounds 250,000 especially around London and the Thames Gateway corridor. The management intend to open new outlets in both areas by 2007. In addition, Bellway's social housing business is also making steady progress.See the full content of this document
Extract
Bellway Profits Up but Share Price Falls
In the housebuilding sector there has been a round of co...
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