Barratt Redrow PLC (LSE:BTRW) and Bellway PLC (LSE:BWY) shares rose on Friday after Berenberg upgraded both housebuilders to 'buy', arguing that strong balance sheets and generous shareholder returns offer an attractive opportunity despite a worsening outlook for the sector. The broker cut its average profit before tax forecasts for the sector by 15% for 2027, citing elevated mortgage rates, higher energy costs and pressure on margins.
Bellway PLC's (LSE:BWY) volume story remains intact, but Citi sees cost inflation and incentives continuing to weigh on margins as the housebuilder works to sustain sales momentum in a difficult market. Analyst Ephrem Ravi said Bellway's latest update pointed to “resilient volume visibility”, with management expecting bulk sales to support delivery and remaining confident about sustaining momentum into FY27 and hitting its FY28 volume targets.
Bellway PLC (LSE:BWY) said it remains on track to meet full-year profit guidance despite a recent slowdown in customer demand and renewed pressure on building material costs. The housebuilder said trading improved at the start of the spring selling season compared with last autumn, but demand softened in April and May following a rise in mortgage rates.
Bellway p.l.c. (BLWYY) Q2 2026 Earnings Call Transcript
Bellway PLC (LSE:BWY) shares fell 6.7% to 1,994p after interim results that showed steady progress, with investors unnerved by the shockwaves from the war in the Middle East that have led to renewed mortgage market volatility. The group completed 4,702 homes in the six months to 31 January 2026, up around 3%, while operating profit edged 1.5% higher to £159 million, though margins slipped from 11.0% to 10.5%.
British homebuilder Bellway trimmed its operating margin outlook for fiscal 2026 on Tuesday, as the sector grapples with the risk of further interest rate hikes dampening housing demand.
Bellway PLC told investors it remains on track to deliver around 9,200 completions in FY26 after first-half output edged higher, even as private demand stayed muted through the autumn and the forward order book fell year on year. The housebuilder completed 4,702 homes in the six months to 31 January 2026, up 2.7% on the prior year, with an average selling price of around £322,000.
Bellway (BLWYY) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Bellway p.l.c. (OTCPK:BLWYY) Q4 2025 Earnings Call October 14, 2025 4:00 AM EDT Company Participants Jason Honeyman - Group CEO & Executive Director Shane Doherty - Chief Financial Officer & Director Simon Scougall Conference Call Participants Ami Galla - Citigroup Inc., Research Division William Jones - Rothschild & Co Redburn, Research Division Allison Sun - BofA Securities, Research Division Aynsley Lammin - Investec Bank plc, Research Division Clyde Lewis - Peel Hunt LLP, Research Division Charlie Campbell - Stifel, Nicolaus & Company, Incorporated, Research Division Christopher Millington - Deutsche Bank AG, Research Division Presentation Jason Honeyman Group CEO & Executive Director Good morning, and welcome to Bellway's full year results.
Housebuilder posts 28% rise in underlying profit before tax to £289 million Plans £150 million share buyback and a 30% dividend increase Forecasts growth to 9,200 homes next year despite softening demand Bellway PLC (LSE:BWY) shares rose 5% in early trading after the UK housebuilder reported a strong rise in annual profit and unveiled plans for a £150 million share buyback. The Newcastle-based group said underlying pre-tax profit climbed nearly 28% to £289 million for the year to July, while completions jumped 14% to 8,749 homes.
UK housebuilder Bellway PLC (LSE:BWY) is expected to place capital efficiency at the centre of its investor comms when it releases full-year results next week, that's according to analysts at Citi. The American bank's London-based analysts reckon attention is likely to be on how the housebuilder sets out detailed targets tied to its capital allocation framework, and they point to Bellway's ambition for a more efficient balance sheet, to enable stronger cash generation and returns to shareholders.
Bellway PLC's (LSE:BWY) trading update brought an air of positivity to the housebuilding sector, piquing buying interest. On the FTSE 100, Persimmon PLC (LSE:PSN) and Taylor Wimpey PLC (LSE:TW.