Bellway FY16 Profit Climbs, Lifts Dividend; Says Long Term Outlook Positive

Shutterstock photo

( - Home builder Bellway Plc. (BWY.L) reported Tuesday that its fiscal 2016 profit before taxation climbed 40.6 percent to 497.9 million pounds from last year's 354.2 million pounds.

Earnings per share were 328.7 pence, up 42 percent from 231.5 pence a year ago.

Total revenue climbed 26.9% to 2.24 billion pounds from 1.77 billion pounds last year. The number of homes sold grew 12.5% to 8,721. The company recorded 12.9% rise in the average selling price to 252,793 pounds.

Further, the company proposed a final dividend of 74.0p per share, bringing the total dividend for the year to 108.0p per share, up 40.3 percent from last year.

Looking ahead, Chairman John Watson
said, "The long term outlook continues to be positive, supported by strong customer demand, a substantial forward order book and favourable trading conditions across all areas of the country where Bellway operates. Whilst there is some uncertainty following the result of the EU referendum, trading since that date has remained resilient."

The company said it is well placed to deliver additional value for shareholders through further disciplined volume growth in the current financial year.

For comments and feedback: contact

This article appears in: Earnings
Referenced Symbols: BLWYY , BWY

More from RTT News


See headlines for BLWYY

Follow on: