Bellway predicts 7,500 sales next year

Nov. 1, 2006
Bellway chief executive John Watson is confident of pushing Bellway’s sales to more than 7,500 next year, following the housebuilder’s announcement that it has already secured 58% of its planned 2006/07 output. The firm announced record pre-tax profits of £220.7 million for the year to July 31, increasing turnover by 5.3% to £1.24 billion on the back of 7,117 home sales at an average selling price of £169,000. Watson said Bellway had performed strongly in the north east, Scotland and the Thames Gateway, where its competitive pricing had enabled it to thrive in the market. And despite continued criticism of the government’s Thames Gateway growth plans, he insisted that it was still a viable region for development. “If you can get the price right in the market there is still demand there,” he said. “We have been actively buying land in and around London.” In the rest of the country, the market remained challenging, Watson told Housebuilder. “The biggest cloud on the horizon is a possible rise in interest rates, which could slow the market.” Watson also revealed that he would consider making an acquisition “if the price is right,” as rumours circulate that the company is among several housebuilders …

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