Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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Bellway PLC (BWY)

  Print      Mail a friend       Annual reports

Friday 04 December, 2009

Bellway PLC

Interim Management Statement

                                  Bellway plc                                  

                         Interim Management Statement                          

                                4 December 2009                                

Following the announcement of the annual results on Tuesday 13 October, Bellway
is today updating the market as to its current trading position by issuing an
Interim Management Statement for the four months to 30 November 2009.

Although the comparative period of trading in 2008 was one of great weakness in
the housing market, the Board is pleased to announce that reservations taken in
the period 1 August to 30 November 2009 averaged 91 per week, 51% ahead of the
same period last year, and from an average of 176 sites, compared to 171 sites
in 2008. Cancellation rates have reverted to a more normal level of around 13%
with the average selling price of reservations taken some 16% ahead of the same
period last year. This increase is primarily due to product and geographical
mix but also reflects the weakness of the market at this time last year. Whilst
the market in and around London is more robust, the northern divisions are
still experiencing testing conditions. The Board anticipates that sales volumes
for the first six months ending 31 January 2010 will be 10% ahead of the same
period last year, and that an operating margin of 6% to 7% will be maintained.

Divisions are gradually increasing investment in new site openings and land
opportunities, having spent £64 million in the first four months on land,
predominantly in the south. With £36 million of net cash at the end of
November, our land teams are actively looking to secure further opportunities
at attractive margins.

Despite Government's best efforts to stimulate the housing market through a
variety of welcome initiatives, there remains a fundamental shortage of
mortgage lending on acceptable terms to potential homebuyers. Until this is
resolved and the threat of unemployment recedes, consumer confidence in many
parts of the country will remain, at best, fragile.

Bellway is still however well placed with 79% of the current 2009/10 sales
target already secured, at average prices ahead of management's expectations,
with a further 600 sales reservations secured for 2010/11. The operating margin
for the year is likely to be towards the higher end of the range of 6% to 7 %
given at the time of our preliminary announcement in October, should current
market conditions continue to prevail throughout 2010.

The next announcement from the Group will coincide with the Annual General
Meeting on Friday 15 January 2010.

Certain statements in this announcement are forward-looking statements which
are based on Bellway plc's expectations, intentions and projections regarding
its future performance, anticipated events or trends and other matters that are
not historical facts. Such forward-looking statements can be identified by the
fact that they do not relate only to historical or current facts.
Forward-looking statements sometimes use words such as "aim", "anticipate",
"target", "expect", "estimate", "intend", "plan", "goal", "believe", or other
words of similar meaning. These statements are not guarantees of future
performance and are subject to known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. Given these risks and
uncertainties, prospective investors are cautioned not to place undue reliance
on forward-looking statements. Forward-looking statements speak only as of the
date of such statements and, except as required by applicable law, Bellway plc
undertakes no obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events or otherwise.


ONWARDS ON 0191 2170717