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Davy Research

Bellway plc

Demand moderates in April and May

Jun 9 2026, 07:56 IST/BST
Ciaran Mulqueen
Company Report
6 page(s)

Sectors : Construction and Housebuilding

Companies : Bellway plc

Ratings and price correct at time of issue.

Bellway plc

Closing Price: 1755p
RATING 24/03/14
OUTPERFORM
PREVIOUS RATING 10/09/13

NEUTRAL

Person's Name

Ciaran Mulqueen

Analyst

DAVY VIEW

Demand softened in April and May, with Bellway picking out higher mortgage rates as one of the main drivers. The company notes that it is on track to achieve underlying operating profit of £320-330m in FY 2026 (Davy: £326m) but also remarked that the outlook beyond the current year remains “uncertain”.

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Jun 9 2026, 07:56 IST/BST