10th Jun 2025 08:49
(Alliance News) - Bellway PLC on Tuesday increased volume and average selling price guidance for the current financial year after "robust" trading through the spring selling period.
In response, shares in the Newcastle upon Tyne-based housebuilder rose 5.2% to 2,812.00 pence each in London on Tuesday morning.
Bellway now expects volume output in financial 2025 to be between 8,600 and 8,700 homes, up from 'at least 8,500' before, and would be growth of as much as 14% from 7,654 homes in the year prior.
The company continues to expect underlying full-year operating margin to approach 11.0%, up from 10% from a year ago.
Bellway said it is now fully sold for the current financial year and, if market conditions remain stable, remains well-positioned to deliver cumulative volume growth of 20% in the two years to July 2026.
Overall average selling price is now anticipated to be around GBP315,000 in the financial year, up from prior guidance of around GBP310,000, and from GBP307,909 a year ago, the firm added.
Bellway reported robust trading through the spring selling season, with an increase in customer confidence and reservation rates compared to the first half of the financial year.
The private reservation rate per outlet per week, excluding bulk sales, of 0.61 was in line with the prior year. Including bulk sales, the private reservation rate increased by 8.1% to 0.67 from 0.62.
"Bellway has delivered a solid trading performance, and we are on track to deliver strong growth in volume output and profits in the full financial year. We have a healthy forward order book and outlet opening programme, which will serve as a platform for further growth in FY26," said Chief Executive Jason Honeyman.
By Jeremy Cutler, Alliance News reporter
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