LONDON (dpa-AFX) - Bellway Plc (BWY.L), on Thursday, reported robust first half performance, with record completions of 5,695 homes versus prior year's 5,694 homes, and a 1.6% increase in the average selling price to £316,900 from last year's £311,849.
The company stated that the overall reservation rate reduced by 31.7% to 138 per week from 202 reported in 2022, with weaker private demand partially offset by the Group's programme of accelerating the construction of social homes.
Jason Honeyman, Chief Executive, said, '...Looking ahead, Bellway's experienced team and operational strength will enable us to navigate through changing market conditions. The Group has a robust balance sheet, with substantial cash resources and it is well-placed to invest, when compelling market opportunities arise, to continue to deliver returns for shareholders in the future.'
While trading during the period has been challenging, the Group retained a strong order book, and has been encouraged by the enquiry levels and the modest improvement in sales rates in the new calendar year. Throughout January, reservations have increased week-on-week and, if these most recent sales rates are sustained through the spring selling season, the Group is on track to deliver full year volume output of around 11,000 homes.
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