Ticker BWY

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As of 16:39 07 Dec 2019
Market cap. Pound sterling
4,181.20 million
As of 16:39 07 Dec 2019

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Bellway shares fall on 'moderate' outlook


Shares in Bellway, the housebuilder, dropped by more than 5% after it said it would deliver "moderate volume growth" in the year ahead.

Its stock fell to £33.14 after it disclosed that its housing reservation rate in the period to 29 September was 4% ahead.

It said: "This, together with a strong forward order book, provides a solid platform from which to deliver further, yet more moderate volume growth in the year ahead, assuming market conditions remain supportive."

It also reported full-year figures, showing up 8.6% to £3.2bn as pre-tax profits grew by 3.4% to £662.6m in the 12 months to the end of July.

Bellway said that housing completions reached a record 10,892 homes.

Bellway shares slump 3% despite upbeat prospects

House being built
Getty Images

Shares in property giant Bellway have fallen more than 3% today despite it saying it increased the number of new homes it developed over the past year and expects revenues to rise as a result.

The housing firm said it expects profit for the year to July to be in line with market forecasts following the "successful delivery" of its growth strategy.

It said that revenue for the year is forecast to have grown by 8% to almost £3.2bn on the back of a 5.7% increase in house completions, to 10,892.

Shares have fallen 87 to 2,795.

'New-build homes not fire safe', BBC investigation finds


Persimmon's annual general meeting is taking place later today, just as BBC programme Watchdog Live reports that houses developed by Persimmon Homes and Bellway Homes have potentially dangerous fire safety issues.

New-builds constructed by the firms were sold with missing or incorrectly installed fire barriers, which are designed to inhibit the spread of fire.

In some cases, it's thought a lack of fire barriers contributed to the spread of fires that have destroyed homes.

Persimmon Homes and Bellway Homes both said they were addressing the issue.

Read more on that investigation here.

In a trading update ahead of the AGM, the company said: "With mortgage lenders continuing to offer attractive products, the level of customer activity has been encouraging with visitor levels to site, sales conversion rates and cancellation rates all running in line with our expectations".

It added that that the cost of building homes was 4% higher and that fewer people signed up to buy homes this year.

Bellway profits rise


Half-year results at housebuilder Bellway are up 8.7% at £313.9m.

It said it had "another good operating performance", with the completion of 5,007 homes, an increase of 5.6%.

The interim dividend is up by 5% to 50.4p per share

Newcastle housebuilder Bellway sees profits rise

Newcastle-based housebuilder Bellway has reported a 14.3% rise in pre-tax profits to £641.1m for the year to July 31.

The firm said revenues lifted 15.6% to £2.96bn over the year.

Its average selling price for private homes also rose by 9.3% to £323,426.

But it reiterated warnings that house price growth has "moderated".


It said this, together with higher costs, was taking its toll on profit margins, while the group added that demand has been "less pronounced at the higher end of the market".

Chief executive Jason Honeyman said: "The board are mindful that the forthcoming exit from the EU in March could pose a threat to consumer confidence during the busy spring selling season.

"Assuming that market conditions remain unchanged, however, this healthy position should enable Bellway to further increase output in the year ahead."

Bellway hits record home sales

Bellway housebuilders

Housebuilder Bellway has reported a 14.3% rise in full-year profits to £641.1m on sales 15.6% higher at £2.9bn.

The company also said that it had sold a record 10,000 homes in the full-year to July.

Bellway revenues up as housing demand 'remains strong'

Houses being built
Getty Images

UK housebuilder Bellway expects revenues for the first half of its financial year to rise 14%, after it sold more homes at higher prices.

Revenues for the six months to 31 January are set to hit £1.3bn, the company said. The number of housing completions rose 6.3%, while the average selling price climbed 7.8% to a record £276,000.

"Market conditions continue to be favourable and customer demand for new homes remains strong," Bellway said.

"Notwithstanding the modest increase in the Bank of England base rate in November, mortgage rates remain low by historical standards, ensuring that the cost of financing a new Bellway home remains affordable."

UK housebuilders have also benefited from the government's Help-to-Buy programme, which aims to help first-time buyers purchase a new-build property.