Bellway keeps building despite euro fears
Published: 14 December, 2011
LONDON: Bellway is to boost house building next year despite fears over the economy fuelled by the ongoing eurozone crisis.
The firm said that is has bought 1400 new plots during the last four months and expects to be working on 215 sites by early next year.
Bellway is focusing on volumes and margin as selling prices jumped 7% reflecting the firm's shift away from flats to more traditional homes.
Bellway told the City: "We have continued to deliver this strategy despite the ongoing concerns over financial markets and their implications for the UK economy.
"Visitor levels and reservations have been remarkably resilient, with the latter having increased by some 14% when compared to the same period last year."
Completions for the six months to January 2012 are expected to be up 5% on last time while operating margins are just under 10%.