April 3, 2018 / 5:09 AM / in 4 months

BRIEF-Selvaag Bolig Q1 home sales down y/y, outlook improves

April 3 (Reuters) - Selvaag Bolig ASA:

* ‍SOLD 216 HOMES WITH A COMBINED VALUE OF NOK 788 MILLION IN Q1 2018​

* ‍MARKET FOR NEW HOMES IS RECOVERING AS WE EXPECTED. SHIFT HAS COME EVEN EARLIER THAN WE THOUGHT​

* ‍CONSTRUCTION STARTED FOR 102 HOMES, 54 WERE COMPLETED AND 59 WERE DELIVERED TO THEIR BUYER​

* ‍AT 31 MARCH, COMPANY HAD 1,511 HOMES UNDER CONSTRUCTION AND 19 COMPLETED UNITS STILL UNSOLD​

* ‍ADJUSTED FOR SELVAAG BOLIG’S SHARE OF JOINT VENTURE PROJECTS, SALES IN Q1 CAME TO 185 HOMES WITH A VALUE OF NOK 693 MILLION​

* ‍COMPANY SOLD 190 HOMES WITH A COMBINED VALUE OF NOK 984 MILLION IN Q1 OF 2017. GROSS SALES FOR THAT PERIOD WERE 238 HOMES​ Source text for Eikon: Further company coverage: (Reporting by Oslo newsroom)

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