Housebuilder says that focus on low-to-middle end of the market will ensure that profit forecasts are met.
Bellway Homes expects to make record annual profits for the ninth year in succession despite a weaker housing market in the second half of last year.
The housebuilder said that its wide geographical coverage and policy of focusing on the low-to-middle end of the market will ensure record profits.
It said that sales of new homes increased 7% to 2,728 for the six months to 31 January 2005. Average selling price was £165,000, up from £156,000, and Bellway said that the operating margin was likely to be slightly higher than the 18.5% achieved in the six months to January 2004.
Bellway said that its policy of forward selling has resulted in the group securing 86% of this year’s sales target of around 7,000 homes. The forward order book is currently £560m compared to £542m at the same point last year.
The results for the six months to 31 January 2005 will be announced on Tuesday 19 April 2005.