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Bellway's Volume Expectations, Orderbook to Prompt Upgrades -- Market Talk

Dow Jones2024-10-15

0911 GMT - Bellway's update is seen as solid, with the housebuilder targeting a material increase in volumes for FY 2025 as its year-on-year forward orderbook is 10% higher in with units standing at 5,109 and has a 16% higher value at 1.43 billion pounds, Goodbody says. The robustness of the volume picture and a better margin outlook--expected to approach 11%--will like prompt analysts to increase fiscal-year operating profit forecasts to around 290 million pounds, from 269 million pounds, with Visible Alpha consensus for the metric at 275 million pounds, Goodbody's analyst Shane Carberry says in a note. "The market should take comfort in the volume outlook," he says. Shares are up 7.2% at 3,272 pence. (anthony.orunagoriainoff@dowjones.com)

 

(END) Dow Jones Newswires

October 15, 2024 05:12 ET (09:12 GMT)

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