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Davy Research

Bellway plc

Mixed FY26 results; new £50m buyback announced

Aug 11 2026, 08:27 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: 2100p
RATING 24/03/14
OUTPERFORM
PREVIOUS RATING 10/09/13

NEUTRAL

Person's Name

Ciaran Mulqueen

Analyst

DAVY VIEW

Bellway reported a mixed set of results, with completions ahead of expectations but adjusted operating profit was at the bottom of the prior guided range due to lower margins. The higher level of volumes was achieved through greater use of bulk deals. We also note the drawdown of the forward order book.

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Aug 11 2026, 08:27 IST/BST