Bellway builds profits in first half

By
0 mins. to read
Bellway builds profits in first half
Master Investor Magazine

Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

FTSE 250 housebuilder Bellway (LON:BWY) has reported an 8.7% increase in profits before taxation for the half-year ended 31st January. Revenues were up by 12.4%, but there was also a 70 basis point contraction in operating margins as the gains from cheaper land acquisitions before rapid real estate price inflation begain to fade.

Chairman Paul Hampden-Smith commented: “Bellway has delivered another positive set of financial results driven by a strong operational performance. The continuation of our growth strategy has resulted in additional volume output and a further rise in the average selling price, with earnings increasing by 8.3% to 207.5p per share, a record for a first half trading period“.

The price of Bellway shares climbed by 2.57% to 3,077p (as of 13:00 GMT),

Comments (0)

Leave a Reply

Your e-mail address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.