Bellway plc

Strong growth in H1; margins beginning to come off

  • Sectors : Construction and Housebuilding
  • Companies : Bellway plc

Ratings and price correct at time of issue.

  • Bellway plc

    Closing Price: 2890p

  • RATING 24/03/14

  • PREVIOUS RATING 10/09/13

    NEUTRAL

DAVY VIEW

Growth at Bellway has been strong in H1, driven by both volume and average selling price (ASP) increases. However, the effect of a slowing inflation environment in the UK may mean that margins are now past peak levels, and more modest levels should be expected in the coming years.

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Feb 7 2019, 08:05 GMT

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