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Sparks commentary

Industrials

Sparks

Bellway (LSE: BWY) – FY24 down as expected but outlook encouraging
Published by Andy Murphy

Bellway’s FY24 completions fell by 30.1% to 7,654 units, leading to decreased revenue, from £3.4bn in 2023 to £2.4bn, and a sharp decline in underlying operating profit to £238.1m, down 56.2%. However, there are positive signs in the second half of the year, with improved customer demand driven by easing mortgage rates and wage growth. While the FY24 results reflect a challenging environment, the company appears well-positioned for a recovery in FY25 as market conditions stabilise.

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