HOUSEBUILDER Bellway sounded a note of optimism on the property market yesterday as it returned to profit in the half-year.
The firm posted a pre-tax profit of £19m for the six months to January 31, up from a £48.6m loss the previous year when the housing slump meant it suffered large write-downs on the value of its land. Bellway said it sold 2,247 homes in the half-year, an increase of 11.6% on a year earlier.
Chairman Howard Dawe said: “Bellway is well placed to benefit from a housing market that should gradually improve over time.”
Newcastle-based Bellway saw profits tumble after big write-downs when the property market was convulsed by the pressure of the credit crunch and recession.
The company said that while the market stabilised towards the end of 2009, worries remain about unemployment, mortgage availability and the outcome of the general election.
But the company plans to expand from its current 180 sites to 200. Both
28 Mar
Posted by Brian Anderson as Finance Help
A SWANSEA hi-tech venture has launched a smart card aimed at the credit union and local authority market.
The Credit Union “Branch in a Box” community smart card system has been developed by smart card software specialists Augusta from its new European headquarters in Swansea.
The interoperable card is also set to provide a boost to neighbourhood retailers, credit unions and local authority services by encouraging residents to spend more time and money in their own localities.
Augusta has developed the system in partnership with Ingenico, the world’s leading supplier of payment solutions. It re
28 Mar
Posted by Brian Anderson as Finance Help
THE redevelopment of a waterfront will create 2,400 jobs – according to an economic study commissioned by its backers.
The study into the scheme in Barry claimed it would create hundreds of jobs in Barry, as well as providing a positive impact on the rest of South East Wales.
The figures are part of a study by Nathaniel Litchfield and Partners, the consultant that produced the plans for a district centre that includes a 4,000-sq ft community facility to be built alongside the main area of the scheme set aside for shops, bars, restaurants and offices. A
SMEs in Wales are struggling in the face of high materials costs and fears about the future of consumer and business spending, according to research from GE Capital.
The GE Capital report, based on interviews with 500 UK SME owners managers conducted during March, shows that 40% of the companies in Wales see high raw materials and inventory costs as one of the three the biggest limitations on their success, making it their biggest concern. The worry over costs was as nearly as high as fears over the health of consumer and business spending in the UK, which 42% of SMEs also identified.
Paul Emeades regional director of GE Capital, said: “As the country teeters on the edge of a fragile turnaround the Government must deliver a robust Budget in support of the 200,000 SMEs in Wales if it is to avoid stifling their recovery.
“SMEs in Wales must not be overlooked. Wit
Glyn Davies, Tax Partner at PriceWaterhouseCoopers gives his expert budget reaction in conversation with WalesOnline business editor Sion Barry.
Part one: The economy
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