forgotten what an uptick looks like. any news out? |
Just spotted a zoopla report out today:
"Latest data from Zoopla shows that average city house prices in the UK rose by 2.8% for the 12 months ended 28 February 2019."
So the like increase to BWY share price perhaps not just results and some sector peers seemingly have read-across. |
Looking very good indeed. Should continue to rise over next day or two, at least. |
Results look ok to me and according to this morning's Times Bellway are a 5-star Company (highest) for the purposes of the Governments 'Help to buy' scheme. One of the best builders in the sector as far as I'm concerned and continue to hold. |
!YOUTUBEVIDEO:c5ex9Ax6-y8:
Can Bellway’s half year statement on Wednesday help patch the holes in its roof?
In February the company revealed that, for the 6 months to 31st January, total revenue is expected to jump over 12% to £1.5 billion. However, as with all things in the UK, these figures sat in the shadow of the Brexit storm clouds lurking over the economy.
Bellway acknowledged the fact that its cancellation rate had risen ‘marginally’ from 11% to 13% year-on-year, while stating that the Board ‘remains cautious given the uncertainty regarding the UK’s forthcoming exit from the EU and the extent to which this will affect wider customer confidence.’
Read what Spreadex analysts have to say, or watch a 60 second earnings preview video, here: |
Can Bellway’s half year statement on Wednesday help patch the holes in its roof?
In February the company revealed that, for the 6 months to 31st January, total revenue is expected to jump over 12% to £1.5 billion. However, as with all things in the UK, these figures sat in the shadow of the Brexit storm clouds lurking over the economy.
Bellway acknowledged the fact that its cancellation rate had risen ‘marginally217; from 11% to 13% year-on-year, while stating that the Board ‘remains cautious given the uncertainty regarding the UK’s forthcoming exit from the EU and the extent to which this will affect wider customer confidence.’
Read what Spreadex analysts have to say, or watch a 60 second earnings preview video, here: hxxps://spreadex.com/?tid=388819 |
 The 2016 Agm was at the very sensible and easily achievable time of 2pm in the afternoon so all shareholders hoping to attend could actually meet the directors and ask questions. They could travel from all over the country and even have time for lunch !
I guess Bellway shareholders like getting out of bed earlier, this year’s AGM kicks off at 8.30 am on Wednesday 12 December 2018 at Jesmond Dene House Hotel, Jesmond Dene, Newcastle upon Tyne NE2 2EY.
So what changed....Do directors at Bellway not want shareholders any more....maybe the huge remuneration at housebuilders and recent furore at Persimmon has made directors devise cunning plans to avoid awkward questions and attention from the media....
The anti shareholder mindset seemed to set in last year with an early morning start but still six shareholders made it through the doors ....
The 2017 AGM was held at 9.30 am on Wednesday 13 December 2017 at Jesmond Dene House Hotel, Jesmond Dene, Newcastle upon Tyne NE2 2EY.
So they have moved it closer to breakfast for those who like to vote whilst eating their cornflakes.
Here’s hoping that the 2019 AGM is not held at 7.30am and at least one shareholder will make it through the early morning fog on the Tyne !! |
Eh? No news out, no price up, I think you have the wrong thread Casino..life is a lottery. ;-) |
great news |
Biggest trading volume in Bellway shares for 3 years yesterday and nearly all buys. Sentiment has changed towards the whole sector. |
During the recent conference, CEO made a point that although everyone across the country is aware of Brexit, it is London that has seen an impact and is most concerned with it. The rest of the country continues as normal, be it a little worried. |
Even though always a shortage of houses, if the crazy brexit happens it must be bad
for house prices as most peolle will be poorer ( NOT JRM or Boris of course ) . But surely a good chance of a peoples vote and it would nean we stay in the EU . |
Thank-you mtsblogs. I do most research via internet, so nice to have a bricks and mortar perspective. |
Walbrock, nice piece of analysis, thanks. |
Poor sentiment continues to dog Bellway but the PE is now looking a bit silly. Yet another big increase in the dividend leaves very little justification to sell but dyor. |
Redrow is aimed at a more ...mature audience, its head (who formed the company and holds 20% I believe) is very old-fashioned and a little stubborn. I suggest you check out his videos where he is taking with apprentices... I've looked at different house builders and BWY stands out. From financials, its NAV, p/e, price-to-book, current ratio, to how its products compare to others (Redrow, Crest). New management is good news too. Out of all house builders it has the best chance to do above average. Not guaranteed to double, but one-two percent above average is likely.
It's a steal at this price: 6.89 p/e (!), 1.4 book (!!), current ration 3.8 - it beats other builders on all fronts. |
mtsblogs - No, I haven't seen Redrow houses - are you saying they are good or bad design?
I hold a number of housing shares and they have been hit today, aswell as the as the last week. I assume it's Brexit.
I held housing through the Brexit vote (now way back) thinking they would be the safe port in the storm for investors and if anything go up. They dived as you know..but came back stronger, so felt my gut instinct was mollified.
I am hoping it is the same now, regardless of Brexit we all need to live somewhere, we will continue to trade between ourselves and the world. So expecting the low sector sentiment to turn.
IMO :-)
Dave |
BWY is a cracking company. New management is great and standardisation of houses is long overdue, well done CEO. Financially, everything looks right and price-to-book is even better after results. Its a steal and now they have 100M cash too. I do not expect this to rocket today or tomorrow, but it is likely to do better than average in a long run. Compared to peers, its stronger and, frankly, the design of houses is very good (have you seen Redrow??) FD seems out of place and I'd not be surprised if he moves on. |
After nine years of continuous sales and growth, is #Bellway still a good investment or has valuation been priced in? Here are Walbrock’s thoughts:
Enjoy! |
Bigbertie,
Since Bellway is cylindrical, it implies a different interpretation of PE. So, a low PE tells investors to expect slower earnings growth or a possible decrease in earnings in the future.
A high PE (like in 2010 and 2011) tells us to expect higher future earnings growth.
Hope this clarifies things. |
Summary of Bellway’s results
1). Bellway with sales coming in at £m, marking 9 years of sales growth. During that period, it manages average sales growth of 17.65% p.a., and the latest sales growth is below average.
2). Thanks to government schemes such as “Help to Buy”, home prices and higher prices contributed to this higher revenue.
3). Bellway’s order book volume grew by 2%, compared to last year 2.2%, but the average home value fell from £272,962 to £268,767.
Meanwhile, reservations per week growing at 2.9% in the first nine weeks, this was down from 5.6%.
Article tomorrow. |
Thank-you Big-Bertie.
Everyone refers to the sector as cyclical, but I don't see it that way.
The BOE and gov do everything they can to avoid peaks and troughs, boom and bust, I see cyclic activity as a failure of policy and interest rates, something that CAN happened, not something ordained to happen.
There are also strategies that can be employed to mitigate effect of rising costs.
I remain LTH.
Builders can also maintain t/o (rather than increase) and return money to s/h, giving the same effective ROCE to investor, without having to progressively get bigger and bigger.
IMO. :-)
Dave (middle name Russell - not a Doc) |
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