Bellway PLC
BWY
ISIN GB0000904986 / Valor 181802
Bellway PLC
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About company
Bellway PLC is a prominent UK-based residential property developer, with its headquarters in Newcastle upon Tyne. The company operates through 20 divisional offices strategically located across England, Scotland, and Wales, enabling it to serve the main population centers throughout Great Britain. Bellway's business model is focused on the development of desirable housing primarily aimed at families, as well as the provision of apartments tailored to meet the needs of young professionals, especially within the London area. While its activities in London are mainly concentrated in the outer boroughs, the company's reach extends across the nation, reflecting its commitment to addressing the diverse housing needs of its clientele. Through its extensive network and strategic focus, Bellway PLC has established itself as a key player in the UK's residential property development sector.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (09.01.2026):
Bellway PLC — Full year results for the year ended 31 July 2025 (FY25; reporting for the 12 months to July 2025, i.e. the company’s FY25 / Q4 2025 reporting period) show a strong operating recovery: completions and revenue rose double‑digit, underlying operating profit and pre‑tax profit increased by ~27%, adjusted operating cashflow jumped to £638.9m, the Board proposed a higher total dividend of 70.0p and initiated a £150m share buyback, while the Group ended the year with net cash of £41.8m. Legacy building safety costs and a CMA-related payment were treated as adjusting items.
Top-line and volumes
Revenue £2,782.8m, up 16.9% (FY25). Total housing completions 8,749, up 14.3%; average selling price £316,412. Private completions rose 20.3% to 6,924 homes.
Underlying profitability
Underlying gross profit £456.8m (+19.9%) and underlying operating profit £303.5m (+27.5%). Underlying operating margin 10.9% (up 90bps). Underlying profit before tax £289.1m (+27.9%).
Earnings and shareholder returns
Underlying EPS 176.7p (up 30.7%); statutory basic EPS 132.8p (up 20.9%). Proposed total ordinary dividend 70.0p (up 29.6%) with underlying dividend cover of 2.5x. £150m share buyback announced to run over the next 12 months.
Cash, balance sheet and capital allocation
Adjusted operating cashflow £638.9m (2024: £425.2m). Year‑end net cash £41.8m (2024: net debt £10.5m). Inventories £4,838.1m. Management refreshed capital allocation framework targeting capital efficiency, improved cash conversion and returns.
Adjusting items and provisions
Net legacy building safety pre‑tax expense £51.8m in FY25 (cost of sales £37.4m; finance unwind £14.4m). Total set aside since 2017 £707.5m with remaining provision £516.4m at 31 July 2025. CMA related costs and voluntary payment totalled £15.4m (treated as an adjusting item).
Operational position and land bank
Land bank 95,704 plots; strategic land 47,800 plots. Average outlets ~246 (closing 249). Forward order book (5 Oct 2025) 5,285 homes valued £1,526.9m. Timber‑frame facility ‘Bellway Home Space’ on track to supply frames from early 2026.
Outlook and guidance
FY26 guidance: volume output ~9,200 homes, average selling price ~£320,000 and underlying operating margin around 11.0%, assuming a stable market. Longer‑term targets: ~10,000 homes by FY28 and material improvement in RoE (new LTIP includes a challenging FY28 pre‑tax RoE stretch target of 14%).
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
4501 M
Market cap (USD)
272,934
Daily traded volume (Shares)
24.22 / 23.74
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
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Ratings & reviews
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