Thursday, Aug 14, 2008
Bellway - Cancellations up whilst Sales, prices, reservations and margins are all down
Citywire: Housebuilder Bellway's sales fall 14% as cancellations rise
British housebuilder Bellway has seen sales fall substantially in the last year as the impact of flagging consumer confidence and an 'unprecedented' number of cancellations impacted the business.The group, which sells homes across the country and employs around 2,000 staff, revealed sales had fallen by 14.2% in the last year to the end of July, down to 6,556.It has also seen the price of its deals decline to £169,000, from £173,000, with the group attributing some of the decline to the fact that 20% of the completions were to housing associations.
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