Fears over cladding costs behind Bellway’s decision to drop Crest bid September 8, 2024 London-listed housebuilder Bellway has cited fears of Crest Nicholson's bulging bill to fix hazardous cladding as its reasoning for pulling out of its £720m takeover deal.
Mark Kleinman: Britain’s fibre infrastructure proves hard to digest August 22, 2024 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City A.M. column. Today, he looks at the UK’s altnet sector, a jilted housebuilder and Thames Water’s leaky boardroom. Britain’s fibre infrastructure proves hard to digest Time to hang up? That’s the way many investors feeling about [...]
Crest Nicholson shares slump as Bellway walks away from £720m takeover August 13, 2024 London-listed housebuilder Bellway has announced it will not make a firm offer to buy rival Crest Nicholson with the company stating that its “strong balance sheet” and land bank would be sufficient to fuel growth independently. Following the announcement Crest Nicholson’s shares slumped by just over 16 per cent to 221p per share. Bellway first [...]
Bellway: Revenue drops but housing market on the up August 9, 2024 Housebuilder Bellway’s revenue has dipped by more than £1bn as “challenging operating conditions” have continued to hit the group. The London-listed company, headquartered in Newcastle upon Tyne, brought in revenue of £2.3bn in the year ending July 30, 2024, down from just under £3.4bn in the 12 months before. Revenue fell as the number of [...]
Crest Nicholson set to accept £720m Bellway bid as housebuilders eye tie-up July 10, 2024 Crest Nicholson is set unanimously to recommend a revised all-share offer from rival FTSE 250 housebuilder Bellway that values the firm at £720m.
Crest Nicholson and Bellway tie-up shows ‘logic’ say investors June 17, 2024 Housebuilders are consolidating to expand their land banks ahead of a potential market upturn, expected once higher interest rates stabilise.
Crest Nicholson: Bellway’s bid ‘significantly undervalued’ housebuilder June 14, 2024 Bellway yesterday went public with the news it had tabled a bid on 7th May for its smaller rival in the latest of a flurry of consolidation efforts
Bellway: Analysts cautious on outlook despite improving market for homebuilders June 10, 2024 Bellway has struggled to return to growth as interest rates have remained relevant.
Housing market on the mend as Bellway reports ‘robust’ spring trade June 7, 2024 "Bellway remains in a strong position to return to growth in financial year 2025," he added.
Bellway reports signs of life in the housing market as buyers return in February March 26, 2024 Shares in Bellway are down in early trade after the housebuilder revealed a fall in housing completions and profits during the interim.