The management expect that legal completions for the six months ending January 31 next year will increase by around 5 per cent. Operating margin for the same period will be at least in line with that achieved in the second half of the previous financial year of just under 10 per cent, the trading statement revealed. Bellway also said it had renewed a £150 million bi-lateral banking facility with one of its existing banking partners, Lloyds Bank Corporate Markets, with no significant changes to banking covenants. "Notwithstanding the current backdrop of global and domestic economic uncertainty, Bellway is well positioned to continue its three pronged strategy of volume, average selling price and operating margin growth. "The order book at 30 November is £458 million (2010: £440 million) and the group has secured some 73 per cent of its current annual target," it said.