Bellway Homes Upbeat with Latest Trading Statement

Bellway Homes the 4th largest House Builder in the UK, today released another upbeat Trading Statement for the 6 months ending 31st January 2011. With details of increase in sales, increase in selling price and importantly increase in profit margin.

A full copy of the Statement can be seen by following the links at the bottom of this post but the high lights on its housing are posted below details regarding its land purchases and housing stock can be seen on our Onyx Marketing blog site:

Bellway plc

 Trading Update

 Monday 7 February 2011

Bellway is today updating the market as to its trading performance for the six months ended 31 January.

 The Group completed the sale of 2,332 homes, an increase of 85 units, compared to the six months ended 31 January 2010. The average sales price of these homes has risen from GBP155,871 in the same period last year to GBP168,000, an improvement of circa 8%. This increase, whilst aided by greater price stability during 2010, is primarily a result of the change in product mix as Bellway continues to change its focus away from apartments towards more traditional two storey homes.

 The operating margin is expected to exceed that achieved in the comparable period last year of 6.1% by almost 100 basis points.

This improvement in margin should continue in the second six months as more recently acquired sites start to contribute to completions…

The strength of this year’s spring selling season should be more apparent, when the results for the six months to 31 January 2011 are announced on Wednesday 30 March.

A full copy of the statement from Bellway Homes can be obtained from their website http://www.bellway.co.uk/corporate or the following link Statement Report

If you are a house builder and need temporary assistance with your commercial requirements or a subcontractor looking for an introduction to major house builders such as Bellway Homes then contact Andrew Fella at Onyx Construction Consultants Ltd 0n 01473 743682

 

UK’s 20 Biggest House Builders by Turnover

The Top 20 house builders league table ranks the UK’s 20 biggest house builders by turnover and profit.

2010 Rank by turnover

2010 Rank by profit

Company

Latest turnover (£m)

Previous turnover (£m)

Latest pre-tax profit (£m)

Previous pre-tax profit (£m)

Latest margin (%)

Previous margin (%)

2009 Rank by Turnover

2009 Rank by Profit

1

20

Taylor Wimpey

2,596

3,468

-700

-1,970

-27.0

-56.8

2

25

2

19

Barratt

2,285

3,555

-679

137

-29.7

3.9

1

2

3

2

Persimmon

1,421

1,755

77.8

-780

5.5

-44.4

3

24

4

12

Bellway

684

1,150

-36.6

34.8

-5.4

3.0

4

4

5

1

Berkeley

615

702

110

120

17.9

17.1

5

1

6

8

Bloor *

311

335

-1.5

-51.9

-0.5

-15.5

13

18

7

17

Miller

310

646

-157

52.9

-50.6

8.2

12

21

8

16

Redrow

302

650

-141

-194

-46.7

-29.8

7

22

9

6

Bovis Homes

282

282

4.8

-78.7

1.7

-27.9

15

20

10

10

Stewart Milne

276

420

-27

25.1

-9.8

6.0

11

6

11

13

Crest Nicholson **

238

544

-50.7

-383

-21.3

-70.4

8

23

12

14

Galliford Try

235

486

-53.8

10.6

-22.9

2.2

6

8

13

3

McCarthy & Stone ***

226

457

19

114

8.4

24.9

10

3

14

7

Fairview

224

223

0.4

-32.3

0.2

-14.5

17

17

15

9

Countryside

188

518

-25.7

26.5

-13.7

5.1

9

5

16

11

Cala

168

175

-33.9

-266

-20.2

-152.0

14

11

17

5

Telford

159

107

7.3

4.3

4.6

4.0

24

12

18

15

Kier

151

312

-62.4

-21.2

-41.3

-6.8

16

15

19

18

McInerney

127

256

-164

-175

-129.1

-68.4

22

14

20

4

Morris

112

163

11.9

17.3

10.6

10.6

18

9

 

 

Totals

10,910

16,204

(1,901)

(3,410)

 

 

 

 

All companies ranked according to their most recently filed accounts.

* Bloor Holdings only publishes an operating profit (before exceptional items) for its house-building business.

** Crest Nicholson results cover period 23 January to 31 October 2009. The company was incorporated on 23 January 2009.

Bellway Homes – Interim Statement – Profits up 20%

Things are looking up at Bellway Homes including the number of sites opening and more importantly their profit. With their land buyers looking to buy new land on top of the 1260 plots bought already.

The full report:

Interim Management Statement

7 December 2010

Bellway is today issuing an Interim Management Statement (IMS) relating to the
period from 1 August to 30 November 2010.

As previously reported at the time of our annual results on 19 October,
reservations prior to the announcement of the Government’s Comprehensive
Spending Review (CSR) did not benefit from the usual degree of uplift normally
associated with the housing market in autumn. Since the CSR, however, home
reservations taken are ahead of the Board’s expectations, although still
slightly down compared with the same period last year. The decline in consumer
confidence appears to have levelled out and encouragingly, people are still
committing to purchase even at this time of year.

The Group currently has 3,614 sales (2009 – 3,486) secured for this financial
year and a further 400 (2009 – 598) for the next financial year. The average
selling price for all these sales is £167,600 which is 8.4% ahead compared to
this time last year, mainly as a result of the continuing change in product
mix. The Board anticipates that unit completions in the six months to 31
January 2011 will be similar to last year, albeit at a slightly higher average
selling price and that net profit before tax will rise by up to 20%.

Our divisions are gradually increasing investment in new site openings and it
is anticipated that the number of selling outlets will increase from 185 to
around 200 in early 2011. Having completed the acquisition of 1,260 plots in
the period and still maintaining a net cash position, the balance sheet remains
robust. The Group’s land teams are actively looking to secure further
opportunities at attractive margins and the divisions are concentrating on
bringing newly acquired sites to the market as quickly as possible to underpin
the operating margin going forward.

The outcome for the year to 31 July 2011 will be greatly dependent on the level
of consumer confidence during the 2011 spring selling season. This, in turn is
reliant on a reasonable supply of affordable mortgages combined with sensible
lending criteria.

The Board believes it is currently well positioned in what continues to be a
tough and testing market for UK housebuilding.

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