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Bellway hopeful of recovery as sales pick up

The housebuilder had a few things to boast about relative to its peers, but are they enough to justify its valuation?
March 26, 2024
  • Order book value rising
  • Highest forward PE ratio

Bellway's (BWY) results contained no surprises. For the six months to 31 January, it slashed dividend payments as sales and earnings slumped due to an interest-rate-driven plummet in housing demand. In this sense, Bellway is much like its peers. However, in other ways, Bellway looks better placed.

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