Lovely looking chart with uptrend channel in place.



Brokers in the main like the company....

Bellway PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
03-03-09 HOLD 28.55 17.84 8.00 13.71 8.57 8.00

Arbuthnot Securities
02-03-09 BUY 38.50 33.60 8.00 29.00 25.31 5.00

Collins Stewart
24-02-09 HOLD

Numis Securities Ltd
20-02-09 BUY 40.00 25.70 12.00 31.00 19.70 12.

After last months trading update....

After more than a decade of boom times housebuilders are slumping in the downturn, but analysts see Bellway as well -placed due to its low debt levels and conservative approach. "The overall statement is in-line - if not a little ahead of our expectations," said Robert Gardiner at Davy Research. "With a strong management team and solid balance sheet Bellway will be one of the best placed UK builders when the sector recovers." The company said debt remains a key short-term goal, but it is optimistic of a recovery. "The Board is ever mindful of positioning the business for the medium and long term by ensuring that the Group's infrastructure is protected, as much as possible, so as to capitalise when confidence returns," the company said in a statement. The group said it is operating within its bank facilities of 402 million pounds, which were renegotiated last year and extend to 2015....... ENDS


Looks like one of the better positioned house builders and the chart is rather impressive.

Should be helped if Interest rates are cut later today.

Back to top for Spitfire.

Cynic, I know your looking in and your a mug if you dont go for this one...... LONG.

Thanks g/f for bringing this to my attention again, took my eye off this sector and hadn't noticed the strong bull chanels.

Even using a 50 and 150 day MA, BWY crossed over as recently as last Friday.

As for interest cuts today, surely boe wont cut to 0.5%, what difference would it make, but thats what I thought last time, so what do I know.

Ohhhhhhhhhhhhhh,

just when you think your Ok.

Think Ill go back to the sidelines Spitters and just keep these present investments open........just in case.


How on earth have these Bwankers (Fred and all) got away with this???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

Final Results


Bellway upgraded to buy from hold at Panmure Gordon, target price rising to 872p from 799p.

Bellway also upgraded to buy from add at Numis, price target rising to 1007p from 882p.

preliminary results from house builder Bellway due on Tuesday. The ongoing recovery is expected to continue, although no return to pre-crash housing construction levels is expected any time soon.

Final Redults.

HIGHLIGHTS

Completed sales of 4,922 homes (2010 - 4,595)

Average price achieved 175,613 (2010 - 163,175)

Total Group turnover of 886.1m (2010 - 768.3m)

Profit before taxation 67.2m (2010 - 44.4m)

Earnings per ordinary share of 41.5p (2010 - 29.7p)

Final dividend for the year 8.8p (2010 - 6.7p)

Forward order book at 30 September of 418.8m (2010 - 396.7m)

Shares in housebuilder Bellway bounced when George Osborne confirmed in the Autumn Statement that the Government will insure mortgages and help to fund infrastructure at housing developments, so management should give their views on the proposals when the company updates on trading on Tuesday.


Tuesday -
Newcastle based Bellway will also give investors an idea of the health of the UK housing market in the face of continuing economic uncertainty

Interim Management Statement.

At the time of its annual results' announcement on 18 October 2011, the Group
outlined its continuing strategy of increasing volumes, raising average selling
prices through changes in mix and achieving margin growth. We have continued
to deliver this strategy despite the ongoing concerns over financial markets
and their implications for the UK economy. Visitor levels and reservations
have been remarkably resilient, with the latter having increased by some 14%
when compared to the same period last year. The average selling price of these
reservations has increased by almost 7%, reflecting the continuing changes in
mix.

The Group continues to utilise a variety of incentives to secure sales, however
encouragingly, the use of shared equity as an incentive has reduced to less
than 5% of reservations in the period compared to 10% last year. In contrast
the part exchange of customers' existing homes is used in an increasing number
of transactions.

Bellway says customers shrugging off the gloom


{ Emma Rowley, 18:53, Friday 9 December 2011, Bellway offered an upbeat view of the housing market as it reported a "surprising" rise in sales, suggesting Britons are shrugging of the economic gloom to "get on with their lives".

The housebuilder said reservations sales which have not completed were up 14pc over August to November (Stuttgart: A0Z24E - news) compared to a year earlier.

Within that time period, sales accelerated from an average 85 a week in the first half to 104 a week in the second. The figure would normally drop off as winter approaches, Bellway said.

"We've been surprised in the market over the last nine weeks," said Alistair Leitch, Bellway's finance director. "What we'd have expected is for it to be probably the other way round, for [activity] to quieten off, but it's actually picked up.

"It's remarkably resilient against the backdrop that we've got going on at the moment in the world economy."

He suggested that "the Great British public think, 'I have got to get on with my life.' What we've got is a 'needs' market, of people who have to move house."

The new build market is not necessarily synonymous with the wider housing market, he cautioned, as developers may sell for what they can get while individual owners sit tight.

However, Mike Bessell at Evolution Securities was cheered that the eurozone crisis is not hitting housing activity, suggesting the UK market has reached its "nadir" and will not slow further.

Bellway used to be focused on first-time buyers but has shifted its attention away from their fodder of town and city apartments, as tighter mortgage lending has shut first-time buyers out of the housing market.

Focusing on more expensive family houses helped the company raise its dividend by 30pc in October, after seeing a 51pc rise in full-year profits. For the six months to the end of January, Bellway expects legal completions to be up 5pc.

While it welcomed Government initiatives to boost the housing sector, such as the newly-unveiled mortgage indemnity scheme, Bellway said that the full year will hinge on consumer confidence, especially during the spring selling season.

Shares in Bellway rose 20.5 to 749p.

Friday 8th June - Housebuilder Bellway reported a strong set of half-year results in March and the company is expected to point to further growth in a trading update. It should have benefited in the quarter the three months to the end of April from the rush among first-time buyers to take advantage of a stamp duty holiday which ended on March 24. The City will also be looking for signs of a boost from the Government’s “NewBuy” scheme, designed to drive sales of new build homes by helping buyers with smaller deposits. Bellway previously reported that it had secured 30 reservations under the scheme in its first two weeks. After reporting a 69pc rise in pre-tax profits to £40.6m in the first half, analysts expect the Newcastle based company to report pre-tax profits of around £90m in the full year to July 31, which would represent an increase of about a third.

Housebuilder Bellway enjoys resilient spring selling season
StockMarketWire.com
Housebuilder Bellway said today that demand throughout the seventeen week spring selling season has remained resilient with visitor levels and reservation rates continuing to outperform expectations.

Reservations during the period, net of cancellations, have averaged 122 per week, an increase of 9% on the prior year. The increase in the private weekly sales rate is more marked at 19%, having been attained from an average of 210 sites, compared to 195 last year.

Whilst sales incentives continue to be used, the enhanced reservation rate has been achieved despite continuing to restrict the use of shared equity, which represented only 8% of reservations taken. The Group welcomes the introduction of the Government's NewBuy mortgage indemnity guarantee scheme which has contributed 90 reservations in the eleven weeks since its launch. The longer term success of this initiative will depend upon the approach of lenders to mortgage rates and credit scoring criteria and to this extent, it will be some months before the Group is able to determine whether NewBuy will have any incremental effect on sales rates.

The target set at the beginning of the financial year of achieving 5% volume growth is now secure, subject to build delivery, and the Board is therefore confident that legal completions for the year ending 31 July 2012 should exceed those achieved last year by around 300 units. In addition, some 1,600 reservations have been taken for completion in 2012/13.

The average selling price in respect of reservations taken since 1 February is £190,400, an increase of 5% compared to the same period last year. The increase is primarily due to a combination of the ongoing contribution of higher value units from the Group's divisions which have exposure to the London market, together with a greater proportion of private reservations.

Operating margins continue to improve as the Group remains focussed on cost control and replenishing the land bank with new sites. An increasing proportion of completions from these new sites, where margins are typically in excess of 20%, should now result in the Group producing an operating margin of at least 11% for the full year.

The Group's land teams have continued to be active in the market, having expended £195 million on land and land creditors and having agreed heads of terms on a further 4,800 plots. The Group continues to adopt a disciplined approach to land buying by focussing on return on capital and margin whilst remaining mindful of local market and employment conditions. The Group had net bank debt of £35 million at 31 May and depending upon the profile of land opportunities over the coming weeks, the Board anticipates a modest level of gearing at the year end.

Assuming consumer demand and the availability of affordable mortgage finance remain unchanged, then the Group's capacity to grow geographically, combined with a strong balance sheet, mean that Bellway is well positioned to continue its three pronged strategy of increasing volume, average selling price and operating margin.

Preliminary Results

HIGHLIGHTS

§ Number of homes sold increased to 5,226 (2011 - 4,922)

§ Average selling price increased to £186,648 (2011 - £175,613)

§ Total Group turnover increased to £1,004.2m (2011 - £886.1m)

§ Operating margin increased to 11.4% (2011 - 8.5%)

§ Profit before tax increased by 57% to £105.3m (2011 - £67.2m)

§ Earnings per share increased by 58% to 65.5p (2011 - 41.5p)

§ Total dividend increased by 60% to 20.0p (2011 - 12.5p)

§ Net asset value increased to 933p (2011 - 888p)

Mind the gap.

AGM Statement

At today's AGM, the Chairman, Mr Howard Dawe, made the following statement:-

"In the short period since the Interim Management Statement (IMS) on 7
December, reservations have remained in line with expectations. The Group
therefore starts the calendar year with 76% of its current year target secure
and assuming the usual pattern of reservations throughout the spring selling
season, the Board, as previously indicated, anticipates that completions will
increase by around 5% for the full year. In addition, the Board expects that
completions for the half year ending 31 January 2013 will also increase by
around 5%.

I am pleased that the final dividend of 14.0 pence per ordinary share has been
approved and this will be paid to shareholders on 16 January 2013, thereby
bringing the total dividend in respect of the year ended 31 July 2012 to 20.0
pence per ordinary share, representing an increase of 60% compared to the prior
year.

A pre-close Trading Update will be issued on Thursday 7 February following the
conclusion of the six month trading period ending 31 January 2013.

As previously announced, I will be retiring as non-executive Chairman on 31
January 2013 and would like to thank the Board, our employees and all connected
with Bellway for their tremendous support throughout my 51 years of service
with the Group."

Bellway going like the clappers
10:56 am by John Harrington The operating margin continues to advance, primarily due to the increasing proportion of completions arising from higher margin land, acquired since the downturn. As a result, the board expects that the operating margin will continue to improve throughout the rest of the financial year.

Bellway (LON:BWY) rose to a 52-week high this morning after a trading update revealed a 2.3% rise in the average selling price of its houses.

The house builder completed the sale of 2,597 homes in the six months to the end of January, up 5.8% from 2,455 in the same period a year earlier.

The average selling price (ASP) of homes sold increased by 2.3% to £187,000 from £182,753 the year before. The increase was ascribed to continuing changes in product and geographic mix.

The board anticipates that the average selling price will continue its upward trend for the remainder of this financial year.

Broker Panmure Gordon acknowledged the strong trading update but said solid growth in units, price and margin against the backdrop of relatively stagnant market condition is the case throughout the house building sector.

As a result, the broker reckons with the shares trading at a premium to the sector’s price/net asset value (NAV) ratio, “the valuation looks up with events”.

Panmure Gordon’s ‘hold’ recommendation and 1063p price target remain unchanged.

“The outlook for the business is relativity positive in our view with continued growth forecast in unit completions, ASPs (on mix) and net margin. However, the pace of underlying growth in unit completions on a per site per week basis is low, and underlying prices are stagnant (growth is currently mix-driven) so we are not seeing anything at Bellway that we are not seeing elsewhere in the sector at present. The margin will continue to progress due to the replacement of old low margin land with new higher margin land,” Panmure Gordon said.

“Weekly sales reservations stood at 97 compared to 89 a year ago – the driver being site growth. We consider this a healthy position for the company to be in going into the important Spring selling season,” the broker added.

Shares in Bellway were up 3.4% to 1,160p in mid-morning

Great results. Thank you Bellway.

Bellway: UBS raises target price from 1100p to 1270p and upgrades to buy.

Sold my holding, been in since OCT 2011 at 6.75p :-))

Well done DC - r u selling up and moving on?

Leaving on a jet plane don't know when I'll be back again. lol

No, lol. I have some very good profits sitting in some of these. I saw in IC today they are starting to question is the boom to come to an end ?

As posted, last week I sold out of NMX3720 which I'd been long since August - at about the current level, as it had had a near vertical rise.

Lets hope we are both wrong and the sector continues up.

I see in IC - st Modwen and Intu properties raised cash on the markets. As IC says its only a trickle but does not want to turn into a torrent. Lets hope we are wrong skinny.

Looking at your posting about hose builder holdings, you might want to look at the Household Goods & Home Construction constituents which is an easy way of exposure to the sector.

Thanks skinny.

Interim Results

Operational Highlights

§ 2,597 homes sold (2012 - 2,455) - up 5.8%
§ Average selling price increased to £187,426 (2012 - £182,753) - up 2.6%
§ Land investment increased to £145 million (2012 - £105 million)
§ Land bank increased to 32,025 plots (31 July 2012 - 31,136 plots)
§ Low net bank debt of £75.4 million representing gearing of only 6.5%
§ 94% of current full year volume target reserved or legally completed

Interim Management Statement

Market

The Group's performance since the beginning of the second half of the financial
year has been encouraging, with strong consumer demand for new homes. Wider
accessibility to affordable, higher loan to value mortgages has led to visitor
numbers and reservations being ahead of expectations and these have been
further enhanced by an increase in the number of active sales outlets.

Trading

Reservations since 1 February have averaged 160 per week, a 31% increase
compared with the same period last year and there has been an improvement in
customer interest since the launch of the government's Help to Buy scheme on 1
April.

Bellway's previous restriction on the use of shared equity incentives has now
been lifted due to the introduction of full government funding for Help to Buy
shared equity loans. Whilst lenders' credit scoring procedures remain robust,
Help to Buy continues to gather momentum, having been used in some 360
reservations. The Board is therefore hopeful that this initial momentum since
launch can be maintained as more lenders begin to offer this product.

The average selling price of reservations has increased as a result of changes
in product mix, although on certain new sites, especially in the south, prices
achieved have been modestly above management's expectations. As a result, the
average selling price of reservations taken since 1 February is £200,300, some
5% ahead compared to the same period last year. It is anticipated that this
increase will mainly benefit the average selling price of completions in the
next financial year.

Land

The Group has continued to invest in new land where the gross margin meets its
acquisition criteria of at least 20% and in doing so has expended £270 million
on land and land creditors since 1 August. In addition, the Group has heads of
terms agreed on a further 4,900 plots.

The Group had net bank debt of £95 million at 31 May and remains well
positioned to continue its investment in land, provided opportunities continue
to offer attractive rates of return. Bellway retains its ability to be
selective in its approach to site acquisitions with the required land already
in place to meet the Group's growth aspirations for the next financial year,
together with a strong pipeline of land progressing through the planning
system.

Outlook

As a result of its investment in land, Bellway is now operating from 223 sites
(2012 - 213 sites) and the Board therefore expects that approximately two
thirds of completions in the year ending 31 July 2013 will arise from land
acquired since the downturn. This should result in the Group achieving around a
200 basis point improvement in the operating margin, compared to the 11.4%
achieved last year.

Subject to construction delivery, Bellway has already secured its initial
target of increasing volumes by at least 5% and the Board therefore now expects
to increase the number of legal completions by around 7% in the year ending 31
July 2013. Furthermore, the Group has reservations in place with a value of £
380 million for completion in the next financial year (2012 - £270 million).

The Board is encouraged by the gradual improvement in market conditions and is
hopeful that this will facilitate further organic growth through geographic
expansion. Given recent history and the wider economic uncertainties, a
disciplined approach to land investment will be maintained, thereby leading to
a sustainable enhancement in shareholder return.

Final results for year ended 31 July 2013

Operational Highlights

§ 5,652 homes sold (2012 - 5,226) - up 8.2%
§ Average selling price increased to £193,025 (2012 - £186,648) - up 3.4%
§ Land bank increased to 32,991 plots (2012 - 31,136 plots)
§ Low net bank debt of £5.8m (2012 - £40.6m) representing gearing of only 0.5% (2012 - 3.6%)

Ex-divi wed 13th Dec (21p)

Friday’s agenda: Bellway hoping to finish 2013 in style
By Jamie Nimmo
December 12 2013, 6:40pm
Friday’s agenda: Bellway hoping to finish 2013 in style


A trading statement from housebuilder Bellway (LON:BWY) will be the highlight of Friday, a typically quiet day for company news.

Shares in Britain’s fourth biggest housebuilder have risen along with its rivals in 2013 as rising house prices and a shortage of properties have provided the perfect combination for property developers.

Any news on the Bank of England’s plans to scrap the Funding for Lending scheme will be in focus. News that it was being cut to allay fears of a housing bubble in the UK dragged down shares in the housebuilders at the end of last month.

Of course there is still Help to Buy, the scheme aimed at helping first-time buyers get a foot on the property ladder.

Broker Jefferies now thinks there are more believers than doubters in a UK residential recovery, with attention turning from “'Do I need exposure to the sector?' to 'Where should I be exposed?'”.

It picks out Bellway as one of the best stocks in the sector with a target price, upgraded last Friday, of £19.54 against the current price of £14.15, down 2.3% on Thursday.

Jefferies thinks the housebuilder, whose only exposure to London is in lower priced boroughs, will be “one of the few housebuilders with exposure to London which may benefit from ‘Help to Buy’”.

Deutsche Bank meanwhile has a ‘hold’ rating on the stock with a target price of £15.92 for the shares.

The share price has risen 37% so far in 2013 and investors will be hoping there are a few more pennies to be added before the year is out.

Annual General Meeting and Interim Management Statement

BWY chart looking very bulish I can see why Broker Liberum raised SP Target to 1900p.

StockMarketWire.com
Homebuilder Bellway unveils record revenues and profits for the year to the end of July as the group responded to strong consumer demand.

The number of homes sole rose by 21% to 6,851 and pre-tax profits increased buy 74.5% to £245.9m.

Revenues were up 33.8% at £1,486.4m and the total proposed dividend has been increased by 73.3% to 52.0p per ordinary share (2013 - 30.0p).

Chairman John Watson, said: "This has been an exceptional year of progress for the Group in which we have delivered record revenue and profit. This increase in earnings has enabled the Board to propose a final dividend of 36.0p per share, bringing the total dividend payment for the year to 52.0p, another record for the Group. "There has been a significant improvement in customer confidence during the year and this has enabled Bellway to accelerate the construction and delivery of much needed new homes. "The outlook remains positive with a record forward order book and this should enable the Group to deliver volume growth of around 10% in the current financial year."

Annual General Meeting and Interim Management Statement

Bellway p.l.c. is holding its Annual General Meeting today, at 12.00 noon and
is issuing an Interim Management Statement relating to the 18 week period from
1 August 2014 to 30 November 2014.


Highlights

- The reservation rate remains robust at 147 per week (2013 - 144 per week).

- The Group has made a significant investment of £233 million (2013 - £121
million) on attractive land opportunities.

- The operating margin is expected to be around 20% for the current financial
year.

- The Group is well placed to deliver further disciplined volume growth,
slightly in excess of 10% for the year ending 31 July 2015, with further
improvements in profitability and return on capital employed.

Interim Results

Highlights

Volume growth to meet the demand for housing has resulted in earnings per share growing by 56.1% to 103.5p and return on capital employed increasing by 580 bps to 22.8%.

Operational Highlights

§ Completions up 15.7% to 3,754 (2014 - 3,245).
§ London remains resilient, with housing revenue in this region up 16.4% to £203.2 million (2014 - £174.6 million).
§ £355 million spent on land opportunities at attractive margins, up 47.9% (2014 - £240 million).
§ Owned and controlled land bank continuing to grow to 35,837 plots (31 July 2014 - 35,434 plots).
§ Order book up 35.2% to £1,121.1 million at 8 March (9 March 2014 - £829.5 million).
§ New South West division now open in Bristol to facilitate future growth plans.

Jefferies International lifts Bellway to buy from hold, target raised from 1717p to 2542p

Interim Management Statement
Friday 5 June 2015

Bellway is today updating the market with regard to its current trading position by issuing an Interim Management Statement (IMS) in respect of the period from 1 February to 31 May 2015.

Highlights
* Housing completions for the full year to 31 July 2015 are expected to
exceed those achieved last year by around 850 units (2014 - 6,851).

* A strong trading performance should result in the full year operating
margin increasing by around 300 bps to over 20% (2014 - 17.2%).

* A record £500 million has been spent on land and land creditors since 1
August (2014 - £400 million), thereby securing further growth potential at
attractive rates of return.

* The successful disposal of the Group's entire portfolio of shared equity
assets for cash consideration of £32.5 million has resulted in an
exceptional profit of £6.9 million and will facilitate additional
investment in land.

* The forward sales position is strong, with growth of 22% in the value of
the forward order book to £1,270 million (2014 - £1,040 million).

Ted Ayres, Group Chief Executive, commented:
"Positive market conditions, implementation of our strategy for growth and a continuing focus on return on capital employed are allowing Bellway to deliver a further increase in volume and a significant rise in profitability. Our disciplined investment in land, alongside plans to open a seventeenth operating division early in the next financial year, ensure that the Group is well positioned to create additional value for shareholders. "

Liberum note :
"Bellway’s IMS showed that the housing market has continued to be strong, giving management confidence it will achieve its guidance for July 2015. Orders and the land bank are rising, and this has driven up our expectation for volumes in 2016, leading to 2% EPS upgrades for 2016E-2018E, extending a long period of positive estimate momentum. We upgrade our target price from 2352p to 2512p to reflect better expected NAV and return on equity, and a smaller discount to fair value. We are running out of upside in the sector, but Bellway remains our preferred mainstream housebuilder as it is well placed to grow in the gap left by the big builders eschewing volume growth and the SMEs who are constrained by access to finance.

Bellway’s IMS (four months to end May) says that the strong start to the spring selling season has continued. Management noticed no slow-down in activity coming into the election and no bounce after, but sales rates have remained good throughout. Reservations in the first four months of the second half (1 Feb to 31 May) were 3% ahead of a strong period last year. Pricing is said to remain positive, with London still outperforming. Bellway's guidance for July 2015 is broadly in line with our estimates, with management guiding to volumes of 7,700 (up from 6,851), ASP of over £220,000 and a margin in excess of 20% (we have 7,700, £222,500 and 20.3% (up from 20.2%), in our model).

Bellway is building good momentum into 2016, with an order book up 10% by volume and 22% by value, and has been very active in the land market, spending £500m in the financial year to date. Management has said that these acquisitions are meeting or exceeding its minimum gross margin and return on capital criteria. Bellway opened its sixteenth division recently, in the South West, and a 17th has been identified in the South East, to open shortly. This suggests that momentum is building for 2016.

We have made a very small upgrade for 2015 as we have tweaked our margin assumption upwards (from 20.2% to 20.3%), but we move 2016E onwards up more materially as we increase expected volume growth (from 6% to 7% for 2016E)."

StockMarketWire.com
Bellway reports that customer demand has continued to be robust throughout the usually quieter summer months and on into the traditionally stronger autumn selling season.

The reservation rate has increased by 12% to 165 homes per week (2014 - 147 per week) in the 18 weeks to 6 December and housing completions for the full year to 31 July 2016 are expected to increase by around 10% (2015 - 7,752).

The average selling price of completions in the current financial year is expected to rise by around 10%.

The operating margin is expected to rise to at least 21% in the current financial year, contributing to a further anticipated improvement in return on capital employed.

Chief executive Ted Ayres said: The Group is committed to its strategy of creating shareholder value through disciplined volume growth and increasing the supply of much needed new homes. The measures announced in the government's recent autumn statement, particularly in relation to the amendments to the Help to Buy scheme in London and its extension in England until 2021, not only provide access to mortgages for homebuyers but also provide further visibility in relation to the longer term outlook when assessing land opportunities. The Group continues to trade well and is favourably positioned to continue delivering volume growth, whilst maintaining a strong focus on return on capital employed.⬝

Bellway said its most recently opened operating divisions, located in Bristol and Kent, are both performing well, with high customer demand in respect of the homes they are constructing.

The average selling price in respect of reservations taken in the period has risen by 5.8% to £252,100 (2014 - £238,200). The increase is modestly ahead of expectations, influenced by the favourable pricing environment and is reflective of the ongoing investment in higher value locations. The Board anticipates that the average selling price of completions in the current financial year will rise by around 10%, although the rate of increase in the six months to 31 January 2016 is likely to be higher due to the legal completion of a number of high value London apartments

StockMarketWire.com
Bellway's housing completions for the full year to 31 July are expected to rise by at least 10% (2015 7,752).

The group reports a strong sales performance in the period from 1 February to 5 June with an 8% increase in the weekly reservation rate to 196 per week during the period (2015 182 per week).

Other highlights:
- Interest in Barking Riverside Limited sold resulting in an exceptional profit of £17.3 million, whilst retaining a pre-emption to purchase around 2,600 development plots.

- Plans to open a nineteenth operating division to support the Group's ongoing growth strategy are well progressed.

Chief executive Ted Ayres said: "The continued positive trading environment, the availability of good quality land opportunities and disciplined investment in an expanding divisional structure are enabling Bellway to continue delivering ongoing volume growth. This strategy for growth, together with a focus on return on capital employed, should lead to another record performance in the year ending 31 July 2016, resulting in further value creation for shareholders."

Liberum comment:
"Past episodes of slowing GDP growth suggest UK house prices could fall by 3% in 2017. Using this as our central case drives EPS cuts of around 18%, and target price cuts of around 20%. Valuations across the sector are much more compelling after a 34% fall in the shares, especially with dividends mainly intact. We limit our enthusiasm to three high conviction stocks: Bellway (BUY), Berkeley (up from HOLD to BUY) and Gleeson (BUY)."

http://i.imgur.com/g1ShqVY.jpg

StockMarketWire.com
Bellway reports an outstanding trading performance in the year to the end of July, achieving new records in both volume and operating margin.

An update ahead of its preliminary results on 18 October shows that housing revenue is expected to increase by around 27% to £2.2 billion (2015 £1,735.1 million) and further volume growth with a 12.5% increase in the number of housing completions to 8,721 (2015 7,752).

Bellway also achieve a record pre-exceptional operating margin, which is expected to rise by around 150 basis points to approach 22%.

Other highlights:
- A substantial forward order book comprising 4,644 homes (2015 4,568 homes) with a value of £1,117.1 million (2015 £1,087.9 million) provides a solid foundation for the next financial year.

- Strong balance sheet with net cash of £26 million (2015 net bank debt of £38.5 million).

Chief executive Ted Ayres said: "The group has delivered an outstanding trading performance, achieving new records for Bellway in respect of both volume and operating margin. We have invested in high quality land and have maintained a significant forward order book, thereby ensuring that the Group is well placed to continue its sizeable contribution to meeting the UK's requirement for new homes in the year ahead.

"It is still too early to assess the effect of the EU referendum result, however trading in recent weeks has been encouraging and Bellway, with its strong balance sheet and robust land bank, can be flexible and respond opportunistically to any changes in market conditions."

StockMarketWire.com
Bellway reports another record year, further increasing the number of new homes sold, which has resulted in a substantial growth in earnings.

Total revenue rose by 26.9% to £2,240.7 million in the year to the end of July (2015 - £1,765.4 million) as a result of the number of homes sold rising by 12.5% to 8,721 (2015 - 7,752), a new record and the Group's seventh successive year of volume growth, together with a further rise of 12.9% in the average selling price to £252,793 (2015 - £223,821).

The group said the strong trading performance resulted in an operating margin of 22.0% (2015 - 20.4%1). This has contributed to earnings per share ('EPS') rising by 42.0% to 328.7p (2015 - 231.5p) and the net asset value per ordinary share ('NAV') has increased by 18.4% to 1,522p (2015 - 1,286p).

The proposed total dividend per share has risen by 40.3% to 108.0p (2015 - 77.0p).

And it says a disciplined approach towards investment has resulted in return on capital employed rising by 430 bps to 28.2%2 (2015 - 23.9%).

Chairman John Watson said: "Bellway has delivered another record year, further increasing the number of new homes sold, which has resulted in a substantial growth in earnings.

"The excellent operating performance has facilitated further investment into the business and has enabled the Board to propose a final dividend of 74.0p per share, bringing the total dividend for the year to 108.0p per share.

"The long term outlook continues to be positive, supported by strong customer demand, a substantial forward order book and favourable trading conditions across all areas of the country where Bellway operates. Whilst there is some uncertainty following the result of the EU referendum, trading since that date has remained resilient.

"Bellway has invested significantly in high quality land opportunities and infrastructure over recent years. As a result, with its strong balance sheet and structure of nineteen operating divisions, the Group is well placed to deliver additional value for shareholders through further disciplined volume growth in the current financial year."

StockMarketWire.com
Bellway has seen a strong sales performance with a 7% increase in the reservation rate to 176 per week (2015 165), according to an update for the 18 week period from 1 August to 4 December.

The update - issued ahead of today's annual general meeting - says that housing completions for the full year to 31 July 2017 are expected to increase by around 5%.

Other highlights:
- Continued investment in high quality sites to secure further growth, with £263 million expended on land and land creditors (2015 £235 million). - As previously announced, the Board is recommending a final dividend of 74.0p per share (2015 52.0p per share), which will result in a record full year dividend for the year ended 31 July 2016 of 108.0p per share (2015 77.0p per share). Chief executive Ted Ayres said: "The Group has made an encouraging start to the financial year and customer demand for new homes continues to be robust. The strength of the underlying housing market supports further growth and this, together with Bellway's strong balance sheet and significant operational capacity, ensures that the Group is well positioned to continue its disciplined growth strategy."

=-=--==-=-=-

Date Broker New target Recomm.
8 Feb Deutsche Bank 2,993.00 Hold
7 Feb Liberum Capital 2,780.00 Buy
7 Feb Peel Hunt 2,900.00 Hold

-===--=

28/2/2017
RNS
Deutsche Bank AG lifts its holding


3,768,986 to 4,126,063 0 3.36% 0

Nice chart mirroring the sector since July.

beware!

BELLWAY (+ others)
An enquiry into potential mis selling by Major Developers such as Taylor Wimpey, Bellway, Persimmon, Linden Homes, Barrats etc of new homes with onerous lease clauses that have resulted in home owners facing in some cases doubling ground rent every 10 years. These clauses were hidden from buyers during sales process and concerted effort by sales people to discourage potential purchase of freehold at point of sale. The clauses are so onerous that owners of these homes cannot now sell them.
Subsequently Developers have sold on the leases to off shore freeholders who in many instances are subsidiaries of the same Developers. I had informed Taylor Wimpey that I would purchase and was told I had 5 years to purchase. The lease was sold without my knowledge in less than 2 years to one of these companies. In my case it was £5,900 to purchase from Taylor Wimpey and 6 months later I was quoted £44k to purchase from the new owner of the freehold.

Finals http://www.moneyam.com/action/news/showArticle?id=5706270

Superb chart just screaming to have some lines drawn on it!

Peel Hunt Add 3,549.50 3,545.00 3,545.00 Reiterates

StockMarketWire.com
Bellway said Wednesday it expected to generate record annual revenue as historical low interest rates supported demand for affordably priced new housing.

For the 12 months to 31 July, the company expects revenue growth of around 16% to almost £3bn, well above the £2.56bn seen last year, and operating margin of around 22% roughly flat year-on-year.

Bellway broke through the 10,000 homes barrier for the first time in its history, selling 10,307 new residential dwellings, an increase of 6.9% from 9,644 homes sold last year.

Strong sales demand was seen during the year, with a 7.0% increase in the reservation rate to 200 per week, up from 187 per week last year.

'There remains an underlying requirement for additional, good quality and affordably priced new housing. This is supported by the availability of Help to Buy and an environment of low interest rates, which despite the recent Bank of England decision, remain close to a historically low level,' said Jason Honeyman, Chief Executive.

'Overall, trading conditions are favourable and customer confidence appears robust, with this reflected in the cancellation rate, which remains low at just 11% for the full year (2017 11%).'

StockMarketWire.com
Bellway said Tuesday annual profits and revenue grew double digits on strong demand for new housing, though the company warned that Brexit could weigh on the busy spring selling season.

For the 12 months to 31 July, profit before tax rose 14.3% to £641.1m and revenue increased 15.6% to almost £2.96bn, well above the £2.56bn from a year earlier. This was in line with the company's guidance released in August.

The gross margin fell to 25.5% for the year, from 25.9% compared to the prior financial year, driven by the reduced income following the sale of freehold reversion interests.

The company's sales were also boosted by the Help-to-Buy scheme, particularly in London, where affordability was most constrained, the company said. Help-to-Buy accounted for 39% of completions.

Bellway sold 10,307 new residential dwellings, an increase of 6.9% from 9,644 homes sold last year.

Robust demand for affordably priced homes supported a 2.9% increase in the reservation to 176 a week in the period, up from 171 a week from a year earlier.

Forward sales were strong as the value of the order book was 7.9% ahead at £1.47bn, compared with £1.36bn last year.

'The Board are mindful that the forthcoming exit from the EU in March could pose a threat to consumer confidence during the busy spring selling season,' said Jason Honeyman, CEO.

'Assuming that market conditions remain unchanged, however, this healthy position should enable Bellway to further increase output in the year ahead.'

Looks a tidy piece of news https://www.moneyam.com/action/news/showArticle?id=6169991