Bellway sags as lockdown hits sales

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Bellway sags as lockdown hits sales

FTSE 250 residential property developer Bellway (LON:BWY) saw its share price fall by 1.23% to 2,728p (as of 15:55 GMT) as sales slipped back in November due to renewed lockdown measures. However, management believe that consumer demand remains strong due to solid reservations rates and website visits.

CEO Jason Honeyman commented: “Bellway is in a robust position and notwithstanding the recent widespread ‘lockdown’ restrictions throughout the country, sales demand is encouraging, and the order book is strong. We have substantial cash resources, considerable ability to continue investing in land and with our solid operational structure, we are determined to return the Group to its strategy of delivering long-term and sustainable growth.

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