Housebuilder Bellway delivers record year
National Housebuilder Bellway announced yesterday, Tuesday 18 October 2016, its preliminary results for the year ended 31 July 2016.
Post-Brexit performance by Bellway saw a record revenue of £2.2 billion, a 27% uplift on the previous year. Profit before tax surged 40 per cent to £500m as the group’s operating margin was boosted to 22 per cent, giving its earnings per share of 328.7p, also 40 per cent up on last year.
Commenting on the results, 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.”
Read the preliminary results on the Bellway Corporate website click here