ANALYST VIEWS: DO BELLWAY’S RESULTS SPELL GROWTH FOR THIS YEAR? October 18, 2011 CHRIS MILLINGTON | NUMIS SECURITIES Bellway’s full year results are strong and we have increased our 2012 estimates – although we feel that the risk remains on the upside. The group has started the year well with the value of sales reservations up 21 per cent in the first nine weeks of the year, which [...]
THE TIPSTER October 16, 2011 WEDNESDAY will see Sports Direct kick-off its figures with a trading statement, and it seems that expectations are good. Despite the retail slump, its projected earnings growth is 20 per cent a year for the next two years. Broker Panmure Gordon recently put a 300p price target on it. Capital Spreads quotes 230.6p-232.8p. Xstrata gives [...]
BEST OF THE BROKERS August 2, 2011 MACINTOSH RETAIL ING rates the Dutch retails group as a “buy” but cuts its 12-month target price from €25 to €22, after slashing its earnings per share by 25 per cent for 2011, and decreasing them fractionally for 2012. The company’s first-half update last week was dominated by weakness in BelCompany and start-up costs for Steve [...]
Bellway upbeat as home sales and orders rise June 10, 2011 House developer Bellway has posted a better than expected view of its market, describing its spring selling as “healthy”. Its average home unit sales rate was 111 properties per week in the four months to the end of May, up nine per cent on the same period in 2010. Average selling prices were up four [...]
BEST OF THE BROKERS May 9, 2011 GREAT PORTLAND UBS has downgraded the property firm from “neutral” to “sell” and has raised its target price by 40p to 390p. The broker thinks the current share price is forward-looking, and does not allow for much execution risk in Great Portland’s ambitious development plans in the City and West End. However, it thinks strong [...]
Spring in the air at Bellway as profits rise March 30, 2011 BRITISH homebuilder Bellway expects its profits this year to grow by a third after a strengthening spring market gave encouragement for an increase in sales. Posting a 26 per cent jump in first-half profits yesterday, the company said site visitors and reservations have returned to the pattern of a “traditional spring market” in spite of [...]
ANALYST VIEWS: WHAT DO YOU THINK OF BELLWAY’S RESULTS? March 30, 2011 MARK HUGHES | PANMURE GORDON The company saw revenues grow in the first-half, as both volumes and average selling prices increased year-on-year. With a positive trend in current trade, we are happy with our full-year forecasts. MICHAEL VASSALLO | BREWIN DOLPHIN Bellway is trading at a larger discount to all in the sector bar Barratt. [...]
Don’t let builders be the only beneficiaries March 28, 2011 Housebuilding companies have rallied since news in last week’s budget that £250m would be made available to help first time buyers get onto the property ladder. Dubbed Firstbuy Direct, the scheme will give those below a certain income threshold access to a 25 per cent equity loan to cover the deposit on a new home. [...]
THE TIPSTER March 28, 2011 HOTEL and restaurant operator Whitbread has been on the up since last week with high expectations for their annual figures to March. Annual profits are suggested to come in at £279m, which is up from £208m last year. With the dividend expected to be increased to 42p, the company appears to be moving in a [...]
THE TIPSTER March 27, 2011 LAST week’s budget certainly gave a fillip to the construction industry. The sector has hardly had an easy ride since the free-flow of credit dried up in 2008, but with some of the froth knocked out of the market, progress seems to have been emerging in recent months. Housebuilder Bellway will be releasing its interims [...]