Bellway and Berkeley announce some positive sales results

Posted on December 10, 2012 by davidb There have been 0 comments

Bellway and Berkeley Group have recently announced that they have seen a significant improvement in results over the last year.

It was announced that over the 18 week period from August 1 to November 30, Bellway’s average selling price of reservations increased 4% to £195,800. Bellway also revealed that reservations rose 6% to 100 per week. This is taken from an average of 213 sites against 205 last year.

Speaking about the improvement in sales, Bellway said that it had achieved 3,951 sales for the current financial year. This is 200 above the total accumulated in 2011 of which the number was 3,748. Bellway revealed that the increase represents 72% of its current annual target. It was also revealed that legal completions are due to rise 5% for the six months ending January 31 2013.

Berkeley have also noted improved statistics with an increase in sales and reservation, meaning  that their pre-tax profit over the six months to October 31 2012 rose 40.7% against the equivalent period last year to £142.2 million.

The group sold 1,927 new homes compared to 1,506 in 2011, their average sales price was£335,000, up against last year’s £254,000. Berkeley said that its revenue increased from£404.9 million in 2011 to £686 million. The majority of the total comprised of £657.8 million of residential revenue. This was accumulated mainly by the sale of residential homes across mixed-use schemes in London and the south east.

“Berkeley aims to remain safe and secure in a period of significant uncertainty by protecting the balance sheet and managing operational risk effectively,” Berkeley said.

“Demand for residential property in good locations has remained strong over the period; this is despite an uncertain economic backdrop and a net contraction in the UK economy so far this year.”

“The housing market continues to provide opportunities... and the group is well placed to make the most of these. Notwithstanding this, the prevailing economic conditions are currently challenging and the wider political and macro-economic risks cannot be overlooked.”

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This post was posted in News and was tagged with Home Builders, Simply Self Build, Residential Homes, Bellway, Berkeley

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