LONDON Feb 11 British housebuilder Bellway
said higher sales and robust house prices boosted
first-half revenues by 41 percent, as strong buyer demand helped
its orderbook swell to 783 million pounds ($1.28 billion).
The housebuilder, which has benefited from an upturn in the
wider housing market since the government extended help to
buyers, said on Tuesday housing revenue over the six months to
the end of January increased 41 percent to 690 million pounds.
It completed the sale of 3,245 homes over the period, up 25
percent on last year, and said the average selling price of
homes rose 13 percent to 212,000 pounds on the back of the sale
of a number of particularly high value London flats.
Bellway said it had taken an average of 137 reservations per
week in the period since Aug 1. Its orderbook at Jan. 31
comprised 3,836 units, representing an increase in value of
almost 73 percent to 783 million pounds.
The company said it expected to achieve an operating margin
of more than 15 percent for the period thanks to the growing
proportion of completions from higher margin land.
It also said it had invested 240 million pounds in land in
the six months, adding that its low debt level of 16 million
pounds, along with bank facilities, would allow it to continue
Shares in the company, which have risen about 38 percent
over the past year, closed at 1,612 pence on Monday, valuing the
group at 1.96 billion pounds.