Bellway expects performance to exceed expectations

Housebuilder Bellway has today (Wednesday) said it expects financial performance for the six months to Jan 31 2003 to exceed expectations.

In a pre-close trading update, the company said it has reserved, contracted or completed 80% of targeted output for the current financial year.

It added that the group has completed the sale of 2,470 homes in the period to Jan 31, an increase of 7% over the same period last year.

In a statement Bellway said: "Despite media speculation regarding the housing market, conditions continue to be encouraging throughout our areas of operation."

Bellway's share price was 10p higher at 475 early this morning - topping the
risers among the FTSE 250 index with a 2% gain.