NEWCASTLE-UPON-TYNE, England, October 18, 2011 /PRNewswire/ --
- Completed sales of 4,922 homes (2010 - 4,595)
- Average price achieved £175,613 (2010 - £163,175)
- Total Group turnover of £886.1m (2010 - £768.3m)
- Profit before taxation £67.2m (2010 - £44.4m)
- Earnings per ordinary share of 41.5p (2010 - 29.7p)
- Final dividend for the year 8.8p (2010 - 6.7p)
- Forward order book at 30 September of £418.8m (2010 - £396.7m)
Chairman Howard Dawe said "against a backdrop of ongoing economic uncertainty"...the Group..."has performed very well in the year ended 31 July 2011".
He continued: "with profit before tax rising by just over 50%, the Board has decided to increase the final dividend by just over 30%". Furthermore "the Group's average weekly reservation rate rose during the early part of 2011 and did not fall until the summer months"..."a typical pattern for a normal housing market" and "...reservations in the first nine weeks of the new financial year are almost 11% ahead of the same period last year".
He concluded "Bellway aims to continue to increase both volumes and average selling prices, the latter by way of ongoing changes in the product mix. This, combined with the improvement in the operating margin, should ensure that shareholder value continues to be enhanced".
SOURCE Bellway Plc