Bellway FY Underlying Pretax Profit Rises - Quick Facts

Bellway plc (BWY.L) reported that its fiscal year total revenue rose by 13.3%, a record for the Group. Housing completions grew by 10.5%, ahead of the company's target, to a record 11,198 homes.

Looking forward, Bellway noted that it entered the new financial year with a strong forward order book. However, given the backdrop of rising interest rates and wider economic uncertainty, the Board currently expects to deliver volume at a similar level to the prior year.

For the year ended 31 July 2022, underlying profit before tax increased to 650.4 million pounds from 530.8 million pounds, prior year. Underlying earnings per share was 420.8 pence compared to 350.9 pence.

Profit before tax declined to 304.2 million pounds from 479.0 million pounds, previous year. Earnings per share was 196.9 pence compared to 316.9 pence. Revenue increased to 3.54 billion pounds from 3.12 billion pounds, previous year.

The Board recommended a 15.2% increase in the final dividend to 95.0 pence per share. This brings the total proposed dividend to 140.0 pence per share, an increase of 19.1%.

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