Tuesday, Oct 13, 2009

Crash ended, even the builders are back to normal(ish)

Telegraph: Bellway sees rise in reservations for homes, pays dividend

Bellway, the British housebuilder, reported a rise in reservations and said it planned to pay a dividend despite reporting a pre-tax loss for year to the end of July. Reservations since the beginning of August were 58pc ahead of a year ago said the builder. Chairman Howard Dawe said: "With national coverage, a robust balance sheet and low gearing, the Board believes Bellway is well positioned." Losses for the year fell to £36.6m pre-tax after a £66.3m writedown on land values. This compares with a £34.8m pre-tax profit last year. Turnover fell 40pc to £683.8m as the company sold fewer homes - 4,380 against 6,556 in 2008. Bellway said it planned to open new outlets and buy land, mainly in the south of England.

Posted by drewster @ 06:13 PM (842 views)
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1. quiet guy said...

From http://www.bellway.co.uk/AboutUs/tabid/57/Default.aspx

"The Bellway Group has provided more than 100,000 homes since it was formed in 1946 and is one of the largest housebuilders in the country with operations spanning the length and breadth of the United Kingdom."

100,000 homes since 1946? Do the math. Their claim to be "one of the largest housebuilders in the country" does seem to be egging it on a bit.

"Bellway homes are designed, built and marketed by local teams operating from regional offices managed and staffed by local people. This allows the company to stay close to its customers and to take key decisions about design, build, materials, planning and marketing in response to local and not national demands."

Perhaps a more positive thing to say about them is that they specialise in smarter development plans with greater emphasis on local requirements.

This isn't really enough to call a national recovery for me.

Wednesday, October 14, 2009 12:05AM Report Comment

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