Bellway sales hit by government cuts October 19, 2010 Housebuilder Bellway reported full year results in line with expectations with uncertainty around the government’s spending review hitting sales. “Sales in the early part of what is traditionally an active autumn selling period have picked up, albeit only slightly, following the usual summer lull,” chairman Howard Dawe said. “It seems that potential homebuyers are awaiting [...]
Bellway claims housing market is back to normal and forecasts 10pc growth August 5, 2010 HOUSEBUILDER Bellway said yesterday it remains on track to increase production by 10 per cent this year, while reassuring investors that the housing market has returned to more normal conditions. The FTSE 250-listed company said it completed the sale of 4,595 homes in the year to 31 July, a rise of five per cent on [...]
Bellway looks to stay south June 15, 2010 HOUSE builder Bellway is upbeat despite flat sales caused by the general election and continuing economic uncertainty, it said in an interim statement yesterday. The FTSE 250-listed company said sales rates stalled at around 100 homes a week in the 18 weeks to June, the same rate as this time last year. By focusing on [...]
ANALYST VIEWS: WHAT DO YOU THINK OF BELLWAY’S PERFORMANCE? June 15, 2010 JON BELL | SHORE CAPITAL “Encouragingly, circa 1,800 reservations have been taken for completion in the next financial year. The company has a very strong balance sheet (£55m of net cash) which will enable management to buy land at the correct price points. The discount to NAV (circa 25 per cent) is unwarranted.” CHRIS MILLINGTON [...]
Redrow April 27, 2010 NO ONE can deny that Redrow’s management team has engineered an impressive recovery. With the once moribund housing market showing signs of life, the firm says that sales rates per outlet are comfortably ahead of the same period last year. Falling prices and soaring cancellation rates are also showing signs of stabilisation. Unlike some of [...]
Redrow on way to profit April 26, 2010 HOUSEBUILDER Redrow expects to return to profitability in the second half of 2010 as market conditions continue to improve. The FTSE 250 group says it has been “encouraged” by sales activity since the start of the calendar year. It is likely to legally complete more than 2,500 homes this year with sales rates per outlet [...]
Shareholders take a tougher line with firms April 7, 2010 ARE institutional shareholders finally getting tougher with the companies in which they invest? Investors have taken their share of the flak for being too weak to intervene when things were turning sour in the run up to the financial crisis. While non-executive board directors failed in their duty to stand up to the likes of [...]
Bellway ups dividend on profit return March 24, 2010 HOUSEBUILDER Bellway is looking to boost its activity levels in coming months after returning to profit in its first half trading. The UK’s fifth largest housebuilder, led by chief executive John Watson, posted profits of £19m for the six months to 31 January amid strong growth in the number of homes sold. This compares to [...]
Bellway to raise dividend after profit surge March 24, 2010 HOUSEBUILDER Bellway will raise its dividend after reporting healthy first half profits. The firm, Britain’s fifth largest housebuilder by market value, made £19m in the six months to the end of January, compared with a loss of £48.6m in the same period the year before. It completed sales of 2,247 homes compared with 2,014 – [...]
THE TIPSTER March 21, 2010 THIS week the focus will be on Wednesday’s Budget and its political ramifications for the upcoming general election. The Labour Party will have been given a boost by last week’s encouraging public finances and Lloyds Banking Group’s announcement on Friday that it expects to turn a profit this year. But is it too little, too [...]