0956 GMT - Bellway enters the second half with a strong orderbook propping up end-of-year volume expectations of at least 8,500 homes, Goodbody analyst Shane Carberry says in a note. The company's first-half performance was strong despite challenging market conditions. Although management is encouraged by the seasonal pick-up in customer enquiries and reservation rates in the early weeks of the spring season, it remains mindful of mortgage affordability, Carberry says. Goodbody sees underlying operating profit of 289 million pounds being in line with consensus of 291 million pounds, he says. "Numbers now look well underpinned given the strong volume delivery in 1H and the strength of the orderbook... into 2H," Carberry says. Shares are down 5.2% at 2,430 pence. (anthony.orunagoriainoff@dowjones.com)
(END) Dow Jones Newswires
February 11, 2025 04:56 ET (09:56 GMT)
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