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| Bellway margins drop by more than 50% Bellway, the UK homebuilder, said it completed the sale of 2,014 homes (2008 - 3, 252) in the six months ended 31 January with the average selling price of these homes reducing from £174,800 to £160,000. Margins continue to come under extreme pressure and could fall by more than 50% when compared to 18.1% posted in the six months ended 31 January 2008. At the end of January Bellway's order book stood at £296 million (2008 - £580 million) of which 70% is contracted; 89% of the current indicated targeted volume for the year ending 31 July 2009 has been secured. Bellway is primarily focused on reducing its indebtedness and, at present, is on target to reduce the year on year debt position at 31 July 2009 by around £100 million to £120 million. write your comments about the article :: © 2009 Construction News :: home page |