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Bellway PLC (BWY)

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feinmann
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Bellway PLC (BWY)

#451189

Postby feinmann » October 19th, 2021, 9:39 am

Strong recovery in profitability, supported by good market conditions and a robust balance sheet

§ Revenue rose by 40.3% to £3,122.5 million (2020 - £2,225.4 million, 2019 - £3,213.2 million), only 2.8% below the record level achieved in financial year 2019.

§ The number of housing completions rose by 34.8% to 10,138 (2020 - 7,522, 2019 - 10,892).

§ Good underlying demand across the country, with a private reservation rate of 169 per week (2020 - 141, 2019 - 160), an increase of 19.9% and 5.6% compared to the prior year and financial year 2019 respectively.

§ Underlying profit before taxation rose by 71.6% to £530.8 million1,4 (2020 - £309.3 million, 2019 - £662.6 million).

§ A front-footed and early re-entry into the land market, with a record 19,819 plots5 contracted (2020 - 12,124 plots, 2019 - 13,284 plots), at a value of £1,066.0 million5 (2020 - £777.7 million, 2019 - £787.7 million), provides the opportunity for volume growth and margin recovery in the years ahead.

§ Strong balance sheet, with year-end net cash of £330.3 million1 (2020 - £1.4 million, 2019 - £201.2 million) and committed debt facilities of £500 million as at 18 October 2021, together ensure that Bellway retains strategic flexibility and can proactively respond to new investment opportunities.

§ Proposed total dividend per share of 117.5p (2020 - 50.0p, 2019 - 150.4p), a rise of 135.0%.

https://www.investegate.co.uk/bellway-p ... 00074476P/
Last edited by csearle on December 29th, 2021, 7:58 am, edited 1 time in total.
Reason: Subject change

monabri
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Re: Bellway PLC (BWY)

#451268

Postby monabri » October 19th, 2021, 12:39 pm


feinmann
Posts: 32
Joined: December 13th, 2016, 1:07 pm
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Bellway PLC (BWY)

#479426

Postby feinmann » February 9th, 2022, 8:26 am

Bellway p.l.c. is today issuing a Trading Update for the six months ended 31 January 2022 ahead of its Interim Results announcement on Tuesday 29 March 2022.

Highlights

§ Strong underlying demand, with a 5.8% increase in the overall reservation rate to 202 per week (2021 - 191) and a 3.8% increase in the private reservation rate to 162 per week (2021 - 156).

§ Further growth in volume output, with the completion of 5,694 new homes (2021 - 5,656), a record for the Group, and ahead of the prior half year, which benefitted from pent-up demand and elevated construction progress.

§ The average selling price rose by 2.8% to £311,800 (2021 - £303,206) and is now expected to be over £300,000 for the full financial year (31 July 2021 - £306,479), an improvement compared to previous guidance, driven by mix and pricing benefits.

§ Strong commercial disciplines, together with some inflationary pricing benefit, should mean that the underlying operating margin for the full financial year is above 18%6 (31 July 2021 - 17.0%).

§ The Group is benefitting from ongoing investment in land to facilitate further growth in the years ahead, with 8,660 plots contracted (2021 - 8,848 plots), across 45 sites (2021 - 54 sites), at attractive rates of return.

§ Strong balance sheet and net cash of £196 million3 (2021 - £346.4 million) provides significant financial resilience and capacity to invest for further growth.

§ A strong forward sales position, with an order book comprising 6,628 homes (2021 - 5,889 homes) and a value of £1,940.9 million5 (2021 - £1,625.3 million).

§ Our substantial order book, strengthened land bank, and significant balance sheet capacity ensure that Bellway remains on target to deliver volume growth of around 10% to over 11,100 homes this financial year (31 July 2021 - 10,138 homes) and annual output of around 12,200 homes in financial year 2023.

https://www.londonstockexchange.com/new ... e/15319092

feinmann
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Re: Bellway PLC (BWY)

#520996

Postby feinmann » August 9th, 2022, 12:41 pm

Bellway p.l.c. ("Bellway" or the "Group") is today issuing a Trading Update for the year ended 31 July 2022 ahead of its Preliminary Results announcement on Tuesday 18 October 2022.

Highlights

§ Record housing revenue, which rose by 13% to over £3.5 billion (2021 - £3,107.1 million, 2020 - £2,204.4 million).

§ Growth in housing completions of 10.5% to a record 11,198 homes (2021 - 10,138, 2020 - 7,522), at an average selling price of £314,400 (2021 - £306,479, 2020 - £293,054).

§ Further improvement in the underlying operating margin to around 18.5%3 (2021 - 17.0%, 2020 - 14.5%), driven by improved site operating efficiency and completions from more recently acquired land.

§ Continued strong demand across the country, with a 6.9% increase in the overall reservation rate to 218 per week (2021 - 204, 2020 - 178).

§ Retained status as a five-star4 homebuilder for the sixth consecutive year, with 93.6% of customers stating that they would recommend a Bellway home to a friend.

§ Further disciplined land investment to support our growth plans, with 19,089 plots5 (2021 - 19,819 plots, 2020 - 12,124 plots) contracted at attractive rates of return, for a total contract value of £1,300.3 million5 (2021 - £1,066.0 million, 2020 - £777.7 million).

§ Strong balance sheet with year-end net cash of £245 million6 (2021 - £330.3 million, 2020 - £1.4 million) and low adjusted gearing, inclusive of land creditors, of around 4%7 (2021 - 3.8%, 2020 - 11.4%). This provides both financial resilience and capacity for investment to deliver future growth.

§ A strong forward sales position, with an order book comprising 7,223 homes (2021 - 7,082 homes, 2020 - 6,588 homes) at a value of £2,114.3 million8 (2021 - £2,022.3 million, 2020 - £1,760.2 million). This underpins our previously announced ambition to deliver an annual output of around 12,200 homes for the year ending 31 July 2023, representing volume growth of around 20% over a two-year period.

https://www.londonstockexchange.com/new ... e/15576418

feinmann
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Bellway Trading Update

#567442

Postby feinmann » February 10th, 2023, 2:35 pm

Bellway p.l.c. is today (9 February 2023) issuing a trading update for the six months ended 31 January 2023 ahead of its Interim Results announcement on Tuesday 28 March 2023.

Highlights

Robust first half performance, with record completions of 5,695 homes (2022 - 5,694 homes) and a 1.6% increase in the average selling price to £316,900 (2022 - £311,849).

The overall reservation rate reduced by 31.7% to 138 per week (2022 - 202), with weaker private demand partially offset by the Group's programme of accelerating the construction of social homes.

Elevated mortgage rates and the end of Help-to-Buy have contributed to a 43.8% decrease in the private reservation rate to 91 per week (2022 - 162).

The combination of strong volume output and the decrease in reservation rates has resulted in a lower, yet still sizeable forward order book, which comprises 5,108 homes (2022 - 6,628 homes), with a value of £1,386.8 million3 (2022 - £1,940.9 million).

Visitor numbers and reservation rates in January have improved from the levels in the fourth quarter of calendar year 2022 and, if sustained through the spring, the Group is on track to deliver full year volume output of around 11,000 homes (31 July 2022 - 11,198 homes).

Reflecting the strength of our land bank and a more cautious approach towards land investment, 2,428 plots (2022 - 8,660 plots) were contracted in the period.

The balance sheet is resilient, with net cash of £292 million4 (2022 - £195.8 million) and low adjusted gearing, inclusive of land creditors, of only 2% (2022 - 4.5%).

https://www.investegate.co.uk/bellway-p ... 00043502P/


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