Homebuilder, Bellway (BWY.L) today announced a strong set of results beating analysts forecasts and recording a pre tax profit of £246M, ahead of forecasts of £238M. This was up 75% on the previous period.
This has been a boom time for the company and it predicts further growth of around 10% in the next financial year if market conditions remain favourable. The company has benefited from a strong increase in the number of units available and an increase in selling price, although with increasing margins.
Chief Executive Ted Ayres said in a statement ”Depending on market conditions, the board envisages further expansion to supplement our existing capacity through the opening of new divisions. The strong market conditions, capacity for growth and our controlled approach to land investment should result in Bellway delivering further value for shareholders.”
Homebuilder, Bellway (BWY.L) today announced a strong set of results beating analysts forecasts and recording a pre tax profit of £246M, ahead of forecasts of £238M. This was up 75% on the previous period.
This has been a boom time for the company and it predicts further growth of around 10% in the next financial year if market conditions remain favourable. The company has benefited from a strong increase in the number of units available and an increase in selling price, although with increasing margins.
Chief Executive Ted Ayres said in a statement ”Depending on market conditions, the board envisages further expansion to supplement our existing capacity through the opening of new divisions. The strong market conditions, capacity for growth and our controlled approach to land investment should result in Bellway delivering further value for shareholders.”
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