Housebuilder issue positive AGM statement but remains wary about economic outlook

Housebuilder Bellway has said reservations in the last five months of 2009 were 54% ahead of the previous year.

In its AGM statement today, the north-east based firm said it had secured 86% of its current 2009/2010 sales target.

Its net cash position on the last day of the year was £51m.

It remains wary about the broader economic outlook, saying: “With concerns over mortgage availability and unemployment in particular, we await the spring selling season with caution.”