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| Bellway housebuilder remains upbeat about trading | Bellway housebuilder remains upbeat about trading |
| (about 3 hours later) | |
| Shares in Bellway rose almost 4% after the housebuilder gave an upbeat assessment of its prospects despite the troubled economic times. | |
| The FTSE 250 firm said in a trading update that its order book grew to £458m in November, up from £440m last year, with reservations up 14%. | The FTSE 250 firm said in a trading update that its order book grew to £458m in November, up from £440m last year, with reservations up 14%. |
| The average selling price of Bellway homes had risen by 7%, it added. | The average selling price of Bellway homes had risen by 7%, it added. |
| However, Bellway said consumer confidence was under pressure, and the spring sales season would be key. | |
| "Notwithstanding the current backdrop of global and domestic economic uncertainty, Bellway is well positioned to continue its three-pronged strategy of volume, average selling price and operating margin growth," the company said in a statement. | "Notwithstanding the current backdrop of global and domestic economic uncertainty, Bellway is well positioned to continue its three-pronged strategy of volume, average selling price and operating margin growth," the company said in a statement. |
| Bellway noted the government's efforts to stimulate the housing market, particularly higher loan-to-value mortgage lending, but admitted its results for the year to July were more likely to hinge on consumer confidence. | |
| Shares in Bellway were up 3.9%, at 757p, in late morning trading. |