Bellway's Strong Order Book Supports Guidance -- Market Talk

Dow Jones
2025/02/11

0825 GMT - Bellway is on track to deliver on full-year guidance at the halfway mark but this robust performance is at odds with its subdued share price performance, RBC Capital Markets analyst Anthony Codling says in a note. The underlying housing market appears to be stronger than what investors think it is, Codling says. Despite a rise in mortgage rates, customer demand and pricing remained firm. The forward order book's value of 1.31 billion pounds is 30% above 2024's levels, and implies a forward order book average sale price that is 9% higher year-on-year, he says. Shares are down 6.3% at 2,402 pence and are down 3.6% in the year to date. (anthony.orunagoriainoff@dowjones.com)

 

(END) Dow Jones Newswires

February 11, 2025 03:25 ET (08:25 GMT)

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