Bellway Ready for Recovery as Outlook Exceeds Results -- Market Talk

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Bellway Ready for Recovery as Outlook Exceeds Results -- Market Talk

Dow Jones2024-10-15

0924 GMT - Although Bellway's results are in line with expectations its outlook for the year ahead exceeds them, RBC Capital Markets analyst Anthony Codling says in a note. The housebuilder is targeting delivery of at least 8,500 homes in FY 2025, compared with Visible Alpha consensus of 8,305 homes, and aims to retain a healthy forward order book for the year to support volume growth in FY 2026, he says. And it is ready to help the government's plan to deliver 1.5 million homes over the next five years and keen to grow its housebuilding business, Codling says. "Bellway believes it is well positioned to deliver strong multi-year growth against a backdrop of planning reform and improving housing market conditions," he says. Shares are up 7.6%, at 3,284 pence.(anthony.orunagoriainoff@dowjones.com)

(END) Dow Jones Newswires

October 15, 2024 05:26 ET (09:26 GMT)

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