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Started: mulledwine, 10 Jun 2011 08:15
Last post: mulledwine, 10 Jun 2011 08:15
The Group continues its disciplined approach to land procurement and, within these restraints, all divisional land teams have been active during the four months under review, with £220 million expended on land and land creditors in the year to date. This expenditure, together with a gradual increase in work in progress, resulted in the Group's net debt rising to £57 million at 31 May, compared with total committed facilities of £290 million. Subject to opportunities which may be available over the coming weeks, the Board expects this level of gearing to reduce by the year end. Constraints in relation to mortgage supply, particularly regarding first time buyers, combined with wider economic concerns, continue to pose challenges to the sector. Nevertheless, with a strong order book, low gearing, and the increasing contribution from sites acquired since the downturn, the Board believes that Bellway is well positioned to continue delivering both operating margin and volume growth if market conditions remain unchanged. The Group will announce a trading update for the financial year ending 31 July 2011 on Friday 5 August.
Started: mulledwine, 10 Jun 2011 08:15
Last post: mulledwine, 10 Jun 2011 08:15
Bellway p.l.c. Interim Management Statement 10 June 2011 Bellway is today updating the market as to its current trading position by issuing an Interim Management Statement (IMS) relating to the period from 1 February to 31 May 2011. The uncertainties that affected consumer confidence during the challenging autumn trading period appear to have diminished and, encouragingly, there has been a return towards a more normal reservation pattern with a healthy spring selling season, despite ongoing concerns remaining in the wider economy. In the seventeen weeks under review, the Group has achieved a sales rate of 111 units per week, an increase of 9% on the same period last year, from an average of 195 sites. The average selling price of these reservations is £182,000, an increase of 4% compared to last year, driven by continuing changes in product mix, combined with a greater contribution of higher value units from divisions in and around London, where demand remains strongest. At the time of the interim announcement in March the Board outlined its target of increasing unit completions for the year ending 31 July 2011 by around 5%. The Board is therefore pleased to announce that these reservations are now secure, subject to delivery, and furthermore some 1,600 reservations have been taken for completion in 2011/12. Operating margin continues to improve as trading from new sites, acquired since the downturn at gross margins in excess of 20%, starts to contribute to a greater proportion of completions.
Started: mulledwine, 10 Jun 2011 08:15
Last post: mulledwine, 10 Jun 2011 08:15
Started: mulledwine, 9 Jun 2011 19:06
Last post: mulledwine, 9 Jun 2011 19:06
Ahead of the interim management statement tomorrow, Panmure Gordon maintained its "buy" recommendation for Bellway (BWY) with a 761p target price. The broker said that whilst the stock is one of the more highly valued in the sector, given the outperformance of the housebuilder's peers in terms of Net Asset Value sustainability during the downturn, it continues to think the shares are worth owning. Shares in Bellway, which has provided more than 100,000 homes since it was formed in 1946, fell 5.5p to 697p.
Having a good chat with yourself here I see. BWY has had a good run of late but I think the economic environment in H2 2011 makes the outlook for the rest of this year very challenging. Personally, I think we will see the sp sub 600p before the end of 2011, but good luck and dyor.
Started: mulledwine, 30 Mar 2011 08:34
Last post: mulledwine, 30 Mar 2011 08:34
House price rally lifts Bellway profits Date: Wednesday 30 Mar 2011 LONDON (ShareCast) - Housebuilder Bellway posted higher profits in the six months to 31 January after selling more homes at higher prices, but warned that consumer confidence remains fragile. As previously reported, the company, one of Britain’s biggest housebuilders, completed sales of 2,332 homes, up from 2,247 over the same period the previous year. Average prices jumped to £168,428 from £155,871. That helped lift pre-tax profits to £24m from £19m, on turnover that was up to £407.9m from £360.8m. The interim dividend climbs to 3.7p from 3.3p. “There is no doubt that the housing market stuttered through the autumn of 2010 and that the inclement weather prior to Christmas had a negative effect on reservation levels,” the company said. “Since the start of 2011, however, visitors and reservations have returned to the pattern of a traditional spring market, despite a media backdrop of negativity,” the company said. As of 13 March, the forward order book stood at £479.2m, against £435.4m the previous year, Bellway said. “Consumer confidence remains fragile and could still be adversely affected by any one of a multitude of factors outside the group's control,” the firm reported. “Bellway is, nevertheless, currently well positioned to deliver increasing returns through a combination of rising volumes, growing average sales prices and improving margins.”
Started: mulledwine, 30 Mar 2011 08:06
Last post: mulledwine, 30 Mar 2011 08:06
Chairman Howard Dawe said "Bellway has exceeded its targets for the six months ended 31 January 2011" as "the Group legally completed 2,332 homes, an increase of almost 4%" and "resulted in profit before tax of £24.0 million, an increase of 26.3%". Furthermore "I am delighted to announce that the interim dividend will be increased by 12.1%." He continued "Last week's budget announcements regarding our industry are to be welcomed" and "our appetite for land purchase continues." He concluded "visitors and reservations have returned to the pattern of a traditional spring market" but "consumer confidence remains fragile" however "Bellway is……currently well positioned to deliver increasing returns."
Started: mulledwine, 30 Mar 2011 08:06
Last post: mulledwine, 30 Mar 2011 08:06
NATIONAL HOUSEBUILDER BELLWAY p.l.c. TODAY, WEDNESDAY 30 MARCH, ANNOUNCE THEIR INTERIM RESULTS FOR THE HALF YEAR ENDED 31 JANUARY 2011. HIGHLIGHTS · Completed sales of 2,332 homes (2010 - 2,247) · Average price achieved £168,428 (2010 - £155,871) · Total Group turnover of £407.9m (2010 - £360.8m) · Profit before taxation £24.0m (2010 - £19.0m) · Interim dividend 3.7p (2010 - 3.3p) · Net asset value per ordinary share 866p (31 July 2010 - 856p) · Earnings per share 15.3p (2010 - 11.6p) · Forward order book at 13 March of £479.2m (14 March 2010 - £435.4m)
Started: mulledwine, 30 Mar 2011 08:05
Last post: mulledwine, 30 Mar 2011 08:05
Started: mulledwine, 9 Feb 2011 09:21
Last post: mulledwine, 9 Feb 2011 09:21
Arbuthnot reiterated its "buy" rating on housebuilder Bellway (BWY) with a 850p target price. The broker continues to believe that the group is well placed to deliver in the current market uncertainty given its: balance sheet strength; land bank depth, good exposure to London and the South East; and conservative, highly-regarded management team. Moreover, despite the recent share price rebound, Arbuthnot thinks that the current share price does not reflect the ability of the business to continue to progress the margin.
Started: mulledwine, 7 Feb 2011 10:28
Last post: mulledwine, 7 Feb 2011 10:28
Housebuilder Bellway has been encouraged by the pick up in site visits and reservations in 2011 following the cold snap in December. The group said it sold 2,332 homes in the six months to end-January, an increase of 85 on the corresponding period a year earlier. The average sales price over the period rose to £168,000 from £155,871 a year earlier, largely as a result of selling more traditional two storey homes and fewer flats.
Started: smiley99, 30 Dec 2010 14:52
Last post: smiley99, 30 Dec 2010 14:52
All the housebuilders did well in December, but with two years of house price falls predicted, expect the share prices of all the house builders to go south during 2011. I agree, Observantken, 500p by summer 2011 is very likely.
Started: observantken, 7 Dec 2010 17:34
Last post: observantken, 7 Dec 2010 17:34
Today's news did not warrant a 10% rise. It will fall back to nearer £5.00 early next year when the reality of the spending cuts hit home (sorry for the pun). All imho - do your own research.
Started: Lukas101, 22 Jan 2010 09:04
Last post: Lukas101, 22 Jan 2010 09:04
just wanted to say that Bellway make crappy houses... after a bust pipe and a gas leak in days caused to shoddy building I consider myself an authority! Still guess they are all as bad as each other.
Started: queeno, 12 Jun 2009 13:54
Last post: queeno, 12 Jun 2009 13:54
PLC board advised last week that the south was picking up in terms of sales but the northern regions were still looking poor, no green shoots yet was the word, but bellway were on line to complete 4200 sales by the end of July, that's 3000 less than in 2007
Started: Trowelbaron, 12 Jun 2009 11:15
Last post: Trowelbaron, 12 Jun 2009 11:15
Lots of mothballed sites now to get going again with new sites coming on stream throughout the year.
Started: BangkokFarrang, 22 May 2009 21:33
Last post: BangkokFarrang, 22 May 2009 21:33
Nope. Just wish they would buy a brown field site off IVS!
This has got to be the worst site ever for lack of postings. Has no-one anything to say?
Started: Joetricky, 11 May 2009 18:28
Last post: Joetricky, 11 May 2009 18:28
Bellway just anounced on local radio that they are to start building phase 1 of a 100 property site in Exeter.
It is very relevent when ROK and Bellway are tendering the same social housing projects and ROK are winning them.
Bellway will have tendered the Plumbing and Electrical work and Avonside will have won the contract on competitive tender, Bellway subcontract all work of this nature, the fact that ROK build houses is not relevant
Started: cpr1, 23 Apr 2009 14:43
Last post: cpr1, 23 Apr 2009 14:43
As a shareholder with Bellway could someone please explain how Bellway get away with awarding contracts to a rival house builders own PH&E business who are in direct competition with them ie ROK (aka Avonside plumbing heating and electrical)
Started: Trowelbaron, 22 Apr 2009 06:55
Last post: Trowelbaron, 22 Apr 2009 06:55
Because it is boring with little or nothing ever happening fast. Looks like a long hard slog with this one and for me I am out of here at break even which hopefully wont be long. Better places to invest.
Why does'nt anybody seem to talk much about this share. 12th March since last posting
Started: mogo, 12 Mar 2009 10:16
Last post: mogo, 12 Mar 2009 10:16
I am quite pleased with this share.They do not have the cash worries of TW. or BDEV -at least not at the moment.And the board has appeared sensible in the past.The shares have never shot down much,just drifted downgently so no BWY shareholders get heart failure at least lol.