Bellway says it is on course for record FY completions, turnover - UPDATE |
|
|
|
Published
:
Fri, 12 Jan 2007 08:52
|
(Adds M&A activity detail)LONDON (AFX) - New homes developer Bellway PLC has said it will deliver a record number of completions and turnover for the six months to Jan 31.In a trading statement issued this morning the group said that if current market conditions prevail, the firm is on course to record increases in completions and turnover for the year ending July 31, 2007. If this happens it will be the sixteenth consecutive year of organic growth for the housebuilder.The group also said that home reservations are currently around 6 pct ahead of the same period last year and that the company is optimistic ahead of the Spring selling season.Howard Dawe, Bellway's chairman, said: 'Home reservations to date are currently some 6 pct ahead compared to the same time last year. Whilst the market remains stable but competitive and against a background of interest rate rises, we await the traditionally strong Spring selling season with cautious optimism.'Bellway is also expected to be active on the acquisition front during 2007. In the final quarter of last year Bellway signalled its interest in purchasing Linden Homes, the private peer, which is being advised by investment bank NM Rothschild over a possible trade sale.The group also looked at Fairclough Homes and Prowting Homes as potential acquisition targets last year.r.jones@thomson.comrj/tc/rj/roCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
|
|
Print this Story
Bellway says it is on course for record FY completions, turnover 