LONDON (dpa-AFX) - Bellway Plc. (BWY.L) said that it expects profit before tax for the full year to be in line with market estimates. It still expects the average selling price for the full year to be in excess of 285,000 pounds in line with previous guidance.
In its trading update for the six months ended 31 January 2020, Bellway said housing revenue rose by almost 4% to around 1.525 billion pounds from last year, mainly driven by strong growth in housing completions. This was partially offset by a slight moderation in the average selling price.
Housing completions for the period rose by 6.3% to 5,321 units from the previous year. The average selling price decreased by 2.5% to around 286,500 pounds from last year.
Total reservations, net of cancellations, rose by 6% to 194 per week. The cancellation rate remained low at 13%.
Demand for private homes was also strong, with the private reservation rate rising by 11% to 151 per week, the company said.
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