Bellway sales on target with margins improving

Housebuilder Bellway says it is on target to hit sales figures, with margin growth that should deliver an operating margin of around 13 per cent for the full year.

Housebuilder Bellway says it is on target to hit sales figures, with margin growth that should deliver an operating margin of around 13 per cent for the full year.

In the interim management statement, covering the 18 weeks from August 1st to November 30th, Bellway said: "The group has achieved 3,951 (2011 - 3,748) sales for the current financial year, representing 72% of its current annual target. The company expects legal completions to increase by around 5% for the six months ending January 31st 2013 and expects that the operating margin for the same period will slightly exceed the 12.5% achieved in the second half of the previous financial year."

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