Bellway Share Discussion Threads

[soysoy] 30/11/2004 21:00

EX DIVI 16 DEC

[soysoy] 17/11/2004 20:00

and now on uptrend

[soysoy] 03/11/2004 17:22

broke out of it`s down wood trend

[ibuyland] 29/10/2004 08:04

I think a bid is imminent.

[soysoy] 21/10/2004 17:22

mac-d cross-over coming blue and red line crossing =golden gross
charttest make this good buying time

[ibuyland] 20/10/2004 12:26

I think the buyer is back today.

[bingobingy] 20/10/2004 08:19

Press today (financial times) said that Bellway too cheap of forward re of just 5.1. Also there's the possibility of consolidation in this sector. When will folks realise! Kumon Belllway up to 800+!

[ibuyland] 19/10/2004 22:54

Redrow or Maclean, with an outside chance of a bid from Peel.

[soysoy] 19/10/2004 19:32

Fiedelity now have 9% good chance of takeover

[soysoy] 19/10/2004 19:30

RNS Number:2435E
Bellway PLC
19 October 2004

SCHEDULE 10

NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

Bellway plc


2. Name of shareholder having a major interest

Fidelity Investments via its subsidiary FMR Corp. and its direct and in-direct
subsidiaries, and Fidelity International Limited and its direct and in-direct
subsidiaries, both being non-beneficial holders.


3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18

As above but we have been advised that the notifiable interest also comprises
the notifiable interest of Mr Edward C Johnson 3d, a principal shareholder of
FMR Corp. and Fidelity International Limited.


4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them

Chase Manhattan Bank London 140,918
HSBC 9,600,000
State Street Bank & Trust 350,000
10,090,918


5. Number of shares / amount of stock acquired

42,354


6. Percentage of issued class

0.038%


7. Number of shares / amount of stock disposed

Not disclosed


8. Percentage of issued class

Not disclosed


9. Class of security

Ordinary 12.5p


10. Date of transaction

Not disclosed


11. Date company informed

19th October 2004


12. Total holding following this notification

10,090,918


13. Total percentage holding of issued class following this notification

9.0%

[ibuyland] 19/10/2004 16:00

I can see a bid coming in for these soon.

[soysoy] 19/10/2004 07:11

RNS Number:1912E
Bellway PLC
19 October 2004


NATIONAL HOUSEBUILDER BELLWAY p.l.c. TODAY, TUESDAY 19 OCTOBER 2004, ANNOUNCE
THEIR PRELIMINARY RESULTS FOR THE YEAR ENDED 31 JULY 2004.




HIGHLIGHTS Year to 31 July
2004 2003 Increase

Turnover - #m 1,092.6 954.2 14.5%
Operating profit - #m 213.3 172.8 23.5%
Profit before taxation - #m 205.5 169.3 21.4%
Basic earnings per ordinary share - pence 127.5 106.0 20.3%
Dividend per ordinary share - pence 25 20 25.0%
Net asset value per ordinary share - pence 585 482 21.4%


THE CHAIRMAN HOWARD DAWE SAID "I am delighted to announce that Bellway p.l.c.,
in its 25th year as a listed company, has produced yet another record set of
annual results". HE ADDED "Profit before taxation lifted by 21.4%, exceeding
#200 million for the first time, at #205.5 million, and basic earnings per share
increased to 127.5p, up 20.3%". HE WENT ON TO SAY "The Group's average selling
price of #161,400 is one of the lowest in the industry and we will continue to
focus very much on selling quality product to the lower to middle market across
a wide geographical spread". HE CONCLUDED "the Group has a robust balance sheet
and, most importantly, a structure which operates with a high level of autonomy
which has proven itself capable of creating successful returns in both strong
and weaker markets. For all these reasons the Board remains confident that
Bellway's successful track record will continue into the future".

2004 2003

* Homes sold - no. 6,610 6,278
* Average selling price - #000 161.4 149.7
* Operating margin - % 19.5 18.1
* Return on average capital employed - % 31.9 31.4
* Land bank - plots with planning permission 20,700 18,400
* Shareholders' funds - #m 675.1 557.1


FOR FURTHER INFORMATION, PLEASE CONTACT JOHN WATSON, CHIEF EXECUTIVE OR ALISTAIR
LEITCH, FINANCE DIRECTOR

TUESDAY 19 OCTOBER - THURSDAY 21 OCTOBER

J WATSON: 07855 337007

A LEITCH: 07855 337001

THEREAFTER: 0191 217 0717



BELLWAY p.l.c

CHAIRMAN'S STATEMENT

Results

I am delighted to announce that Bellway p.l.c., in its 25th year as a listed
company, has produced yet another record set of annual results.

In the year to 31 July 2004 turnover increased to #1.093 billion from #954
million in the corresponding period last year after selling 6,610 homes at an
average selling price of #161,400. Operating profit increased by 23.5% to #213.3
million whilst operating margins also increased to 19.5% from 18.1% in the
previous year. Interest payable of #7.7 million is covered almost 28 times.

Profit before taxation lifted by 21.4%, exceeding #200 million for the first
time at #205.5 million, and basic earnings per share increased to 127.5p, up
20.3%. The Group balance sheet was further strengthened by retained earnings of
#114.0 million, boosting shareholders' funds to #675.1million.

The land bank, owned with planning permission, has been strengthened by the
addition of some 2,300 plots to 20,700 plots. Our return on average capital
employed is one of the highest in the industry at 31.9% and at the end of the
year, net borrowings amounted to #63.1 million producing gearing of 9.3%.

Dividend

Last April I advised shareholders of a 50% increase in the interim dividend and
indicated that the increase for the full year would be around 20%. In view of
these outstanding results, the Board has recommended an increase in the final
dividend from 13.8p to 15.7p per share. This produces a total dividend for the
year of 25p per share compared with 20p last year, an increase of 25% and means
that the level of dividend payout to shareholders has more than doubled in four
years.

Ordinary shareholders on the Register of Members at the close of business on
Friday 17 December 2004 will receive the final dividend of 15.7p per ordinary
share on Monday 17 January 2005.

Current Trading

As explained in the recent Trading Update, in Autumn 2003 the Board took a
policy decision to sell forward as far as practicably possible and this has
manifested itself in the value of Bellway's forward sales climbing from #380
million in July 2003 to #587 million in July 2004. This represents more than 50%
of the Group's current target for the year to 31 July 2005.

Five interest rate rises since November 2003 have had the desired effect of
returning the housing market to more normal conditions. Looking forward, we
believe that if interest rates stay at around their current levels, which are
still historically low, then we are confident that the market will be
sustainable.

The Group's average selling price of #161,400 is one of the lowest in the
industry and we will continue to focus very much on selling quality product to
the lower to middle market across a wide geographical spread. I am pleased to
say that the Group has presently either reserved, contracted or legally
completed two thirds of the current year's target, an extremely strong position.

I am pleased to inform you that Bellway is one of the first companies to
commence construction in one of the Government's nine designated Pathfinder
areas at Sefton, Liverpool, reinforcing the Group's commitment to urban
regeneration. I also welcome the Chancellor of the Exchequer's recent
announcement of an extra #1.3 billion of Government funds, amounting to #7.2
billion over the next three years, to be allocated to affordable housing as part
of the Government's Sustainable Communities Plan. The Group continues to work
closely with English Partnerships, Housing Associations, Regional Development
Agencies and Local Authorities on a range of initiatives across the country.

Corporate Social Responsibility

Bellway takes its obligations in this important area very seriously and
continues its ongoing commitment to enhancing the environment and the community
throughout all its areas of operation. The Group's Environmental Policy
Statement is set out in our Annual Report. In addition to the Annual Report, the
Group will also be sending to shareholders and other key stakeholders a
Corporate Responsibility Report detailing its performance achievements in the
areas of health and safety, energy, waste and water. In addition, this document
will also provide details of Bellway's many community involvement initiatives.

Board Change

As previously advised, my contractual retirement date is 1 November 2004 and the
Board has invited me to become Non-Executive Chairman from that date. I am
delighted to accept this new role and look forward to leading the Board in
achieving the Group's long term growth plans.

When I became Chief Executive of Bellway in 1985 the Group had, in that
financial year, sold 1,408 homes, turnover was #52.8 million and pre-tax profit
was #3.3 million. The Group has grown enormously since then and as my executive
responsibilities are now coming to an end I am confident that the
entrepreneurial spirit which has served Bellway so well over the years will be
carried forward by the current management team.

People

The Board would like to express, yet again, its thanks to all who have worked so
hard for Bellway during the year. These record results have been made possible
by the skill, hard work and enthusiasm of the Group's employees together with
its many suppliers, contractors and partners.

Future Prospects

Bellway sees increasing growth as a result of the Group's strengthening land
position and its increasing commitment to Housing Association work. In addition,
the Group has a robust balance sheet and, most importantly, a structure which
operates with a high level of autonomy and has proven itself capable of creating
successful returns in both strong and weaker markets. For all these reasons the
Board remains confident that Bellway's successful track record will continue
into the future.

H C Dawe

Chairman

18 October 2004





BELLWAY p.l.c.

CHIEF EXECUTIVE'S OPERATING REVIEW

Another Year of Growth

I am pleased to report that this is the thirteenth consecutive year of organic
growth for the Group. In the year ended 31 July 2004 we completed the sale of
6,610 homes, an increase of 5.3% on last year. This has generated record
turnover, exceeding #1 billion for the first time, producing pre-tax profits of
#205.5 million, an increase of 21.4% compared to the previous year and with the
operating margin improving from 18.1% to 19.5%.

Bellway's market place covers a wide spectrum of price and tenures with selling
prices during the year ranging from #40,000 up to #800,000. Whilst the average
selling price achieved in the period increased by 7.8% to #161,400, some 50% of
the homes sold were #150,000 or less, and this is one of the lowest price
profiles in the industry. The Group's focus continues to be firmly established
in the lower to middle market and we continue to build relationships with
various Government Agencies and Housing Associations. During the year the Group
legally completed 566 homes for rent or shared ownership at an average price of
#90,500. This section of the business will grow in the future as planning
permissions are granted, particularly in the South East of England, imposing a
30-50% social housing content. In addition, in the North the Government
designated Pathfinder schemes are also coming to fruition and we have been
nominated as preferred partners in projects in Birmingham, Newcastle and two in
Liverpool.

Divisional Performance

The Group's northern divisions, which operate from Perth down to Coventry, sold
3,367 homes representing 51% of legal completions. The average selling price in
the North increased by 13.7% to #150,200 to yield an increase in turnover of
9.8%, at #505.8 million. Most notably, the East Midlands and Scottish divisions
increased the number of units sold to over 500 for the first time.

The Group's southern divisions increased turnover by 17.1% to #560.7 million,
with average selling prices rising from #171,600 to #172,900 and unit sales
increasing from 2,791 to 3,243 homes. The North London division achieved a
turnover figure in excess of #100 million for the first time.

The Group's wide geographical spread provides an excellent defence against the
regional variances of the UK housing market and helps to smooth the impact of
local price fluctuations.

Organic Growth

Each of the divisions develops the full spectrum of housing from traditional two
storey homes to inner city apartments allowing local management the flexibility
to exploit a diverse range of development opportunities.

The new South West division traded profitably in its first year, completing 99
homes, and continues to grow. With only five divisions currently completing more
than 500 units, there is great scope for further expansion through the existing
structure. In addition, increasing production will start to come from our new
divisions in East Scotland and Thames Gateway North, allowing the Group to move
towards its target of selling 10,000 homes per annum by 2010.



Urban Regeneration

Augmenting our already considerable experience in urban regeneration is a team
specialising in the procurement of new opportunities for our trading divisions.
In the South, Government initiatives are aimed at the wholesale redevelopment of
large post war local authority housing estates. In the North, the Government has
announced nine designated Pathfinder areas aimed at the redevelopment of whole
communities. Both forms of regeneration are given priority in the planning
process but involve community liaison on a much wider scale. For these reasons
our 'Bellway City Solutions' approach is being adopted, a natural extension to
the grant aided schemes of the past. Two good examples of this can be seen at
Haddo in the London Borough of Greenwich, where a council estate is being
demolished and replaced with over 500 new homes. In Sefton, Liverpool, Bellway
is one of the first housebuilders in the country to commence a Pathfinder
project. An interesting by-product of the latter scheme involves the employment
of a full time training officer and up to 40 local people engaged in the
redevelopment of a whole community, helping to create 1,000 new homes.

We are also pleased to see that our regeneration efforts have been recognised by
the Royal Town Planning Institute who in October 2003 awarded our development of
95 homes at Littlehampton the best example of "Town Regeneration".

Innovation

Whilst it is not our intention to invest in a separate production facility, we
are involved in many new housing initiatives as well as new construction
techniques.

During the year the Group constructed 20% of homes using timber frame and are
presently constructing one of the largest timber frame projects in the country
at Ochre Yards, a former British Rail marshalling yard on the banks of the River
Tyne. In Cardiff Bay, land which was formerly under water has now been reclaimed
and the construction of a new mixed use community of 900 homes is well underway.

As a by-product of the planning process, the Group is currently involved in the
construction and subsequent sale of over 40,000 square feet of office and retail
space.

Size and complexity of construction is not a deterrent as the Group looks to
exploit every type and form of land opportunity. A good example of this is the
construction of apartments in each of the four corners of the Matchroom Stadium
at Brisbane Road, Leyton in east London, the home of Leyton Orient Football
Club. The successful delivery of such a wide variety of projects highlights a
management structure that is quick to respond to the many different challenges
which present themselves.

Land Holdings

During the year the Group acquired 8,910 plots, 35% more than it sold, thereby
increasing both the size and quality of the land bank. These plots are recorded
on the balance sheet and have the benefit of a planning permission. This
increases the total number of plots held at the year end from 18,400 to 20,700,
a 12.5% improvement on the previous year. A large percentage of the 8,910 plots
acquired during the year were converted by the Group's planning teams from
medium term land holdings.

In addition to the 20,700 plots held with planning permission, Bellway holds,
either owned or contracted, a further 14,500 plots which we anticipate will
receive planning permission in the near future. Furthermore, 3,200 acres of
land, either owned or held under option, which are typically greenfield, are
awaiting land release in the longer term. We are pleased to see that our land
and planning teams have had another successful year despite a difficult planning
environment.

In March 2004 the former power station site we owned at Barking Reach in London
was transferred into a company called "Barking Riverside Limited", this company
is a joint arrangement between Bellway and English Partnerships. It is
anticipated that the new company will be submitting a planning application for a
mixed-use development of up to 11,000 new homes, including a significant
proportion of key worker, affordable housing and community facilities.

Our land bank is therefore a blend of opportunities representing over five years
of current production spread throughout the country.

Health and Safety

Ensuring the health and safety of our employees, sub-contractors and the general
public is of the utmost importance to Bellway. Every three weeks, and more often
on more complex sites, independent safety consultants undertake a health and
safety audit on each site. The ensuing reports are discussed in detail to ensure
that health and safety issues are being managed effectively. In addition review
meetings are held with consultants every six months. We are a signatory to the
HBF Health and Safety Charter and notwithstanding an increase in the number of
sites under construction, we are pleased to see that the number of reportable
accidents has shown a significant reduction during the year.

Howard Dawe

As Howard relinquishes his executive responsibilities, I would like to place on
record the Board's sincere thanks to him for his unique contribution to the
Group's success over the last 43 years.

The Board will be pleased to continue to enjoy the benefit of his vast
experience in his new role as Non-Executive Chairman with effect from 1 November
2004.

J K Watson
Chief Executive

18 October 2004




BELLWAY p.l.c.

GROUP PROFIT AND LOSS ACCOUNT

For the year ended 31 July 2004
Notes 2004 2003
#000 #000
Turnover 1,092,571 954,197
Cost of sales (829,598) (739,479)
__________ __________
Gross profit 262,973 214,718
Administrative expenses (49,696) (41,956)
__________ __________
Group operating profit 213,277 172,762
Share of operating (loss) / profit in associated undertakings (22) 367
__________ __________
Total operating profit: Group and share of associates 213,255 173,129
Exceptional items : Profit on disposal of freehold ground rents - 2,075
Net interest payable (including associated undertakings) (7,725) (5,953)
__________ __________
Profit on ordinary activities before taxation 205,530 169,251
Taxation (61,700) (50,687)
__________ __________
Profit after taxation 143,830 118,564
Minority interest - equity 5 -
__________ __________
Profit for the financial year attributable to shareholders 143,835 118,564
Dividends on equity and non-equity shares 1 (29,864) (24,166)
__________ __________
Retained profit for the financial year 113,971 94,398
====== ======
Earnings per ordinary share - basic 2 127.5p 106.0p
Earnings per ordinary share - diluted 2 126.1p 104.9p

The Group's results for both the current and preceding financial years derive
from continuing operations.

The Company has taken advantage of the exemption from the requirement to present
its own profit and loss account which is given by Section 230 (4) of the
Companies Act 1985. The Company's profit for the year was #135,000,000 (2003 -
#110,000,000).

There were no significant recognised gains or losses in the current or
preceding year other than the profit attributable to shareholders.




BELLWAY p.l.c.

BALANCE SHEETS

At 31 July 2004

Group Group Company Company
2004 2003 2004 2003
As restated
#000 #000 #000 #000
Fixed assets
Tangible assets 16,628 16,293 - -
Investments 45 115 16,200 16,200
_________ _________ _________ _________
16,673 16,408 16,200 16,200
_________ _________ _________ _________
Current assets
Stocks 1,025,764 857,984 - -
Debtors 38,176 33,420 587,635 478,935
Cash at bank and in hand 111,942 88,392 4,926 3,468
_________ _________ _________ _________
1,175,882 979,796 592,561 482,403
Current liabilities
Creditors due within one year (336,818) (269,360) (18,515) (16,276)
_________ _________ _________ _________
Net current assets 839,064 710,436 574,046 466,127
_________ _________ _________ _________
Total assets less current liabilities 855,737 726,844 590,246 482,327
Creditors due after more than one year (180,752) (169,602) - -
Provisions for liabilities and charges - (195) - -
_________ _________ _________ _________
Net assets 674,985 557,047 590,246 482,327
====== ====== ====== ======
Capital and reserves
Equity share capital - Ordinary shares 14,008 13,926 14,008 13,926
Non-equity share capital - Preference shares 20,000 20,000 20,000 20,000
_________ _________ _________ _________
Called up share capital 34,008 33,926 34,008 33,926
Equity reserves
Share premium account 104,492 101,791 104,492 101,791
Other reserves 1,492 1,492 2,145 2,145
Profit and loss account 535,059 419,899 449,601 344,465
_________ _________ _________ _________
Shareholders' funds - equity and non-equity 675,051 557,108 590,246 482,327
Equity minority interest (66) (61) - -
_________ _________ _________ _________
674,985 557,047 590,246 482,327
====== ====== ====== ======

Approved by the Board of Directors on 18 October 2004 and signed on its behalf
by

H C Dawe A M Leitch
Director Director



BELLWAY p.l.c.

GROUP CASH FLOW STATEMENT

For the year ended 31 July 2004

Notes 2004 2003
As restated
#000 #000 #000 #000
Net cash inflow from operating activities
Group operating profit 213,277 172,762
Depreciation charge 3,583 3,631
Profit on sale of fixed assets (271) (220)
Increase in stocks (167,780) (120,722)
Increase in debtors (2,286) (12,542)
Increase in creditors 26,502 19,370
________ ________
73,025 62,279
Net cash outflow from returns on investments

and servicing of finance
Interest paid (10,477) (5,811)
Interest received 1,361 1,427
Dividends paid - non-equity (1,900) (1,900)
________ ________
(11,016) (6,284)
Taxation (54,775) (44,271)
Net cash (outflow) / inflow from capital expenditure
and financial investment
Purchase of tangible fixed assets (5,943) (4,127)
Purchase of investments - (35)
Sale of tangible fixed assets 2,277 112
Sale of freehold ground rents - 8,079
________ ________
(3,666) 4,029
Equity dividends paid (25,725) (19,203)
________ ________
Net cash outflow before financing (22,157) (3,450)
Net cash inflow from financing
Issue of ordinary share capital on exercise of share 1,827 3,569
options
Purchase of own shares by employee share option plans (1,106) (217)
Increase / (decrease) in bank loans due within one year 15,000 (30,000)
Increase in bank loans due after more than one year 30,000 45,000
________ ________
45,721 18,352
________ ________
Increase in cash in year 3 23,564 14,902
===== =====



NOTES


1 DIVIDENDS ON EQUITY AND NON-EQUITY SHARES 2004 2003
#000 #000
Ordinary share capital - equity
Interim paid on 1 July 2004 - 9.3p per share (2003 - 6.2p) 10,370 6,879
Final proposed - 15.7p per share (2003 - 13.8p) 17,594 15,387
________ ________
Total for year - 25.0p per share (2003 - 20.0p) 27,964 22,266
Preference share capital 9.5% - non-equity 1,900 1,900
________ ________
29,864 24,166
===== =====


The directors recommend payment of the final dividend on Monday 17 January
2005 to shareholders on the Register at the close of business on Friday 17
December 2004.

2 EARNINGS


The calculation of basic earnings per ordinary share is based on earnings of
#141,935,000 (2003 - #116,664,000) after taxation, minority interest and
preference dividend and the weighted average number of ordinary shares
(excluding the weighted average number of ordinary shares held by the
employee share ownership plans) in issue during the year of 111,303,849
(2003 - 110,102,928).

The calculation of diluted earnings per ordinary share uses the same
earnings figure as the basic calculation but the weighted average number of
shares has been adjusted to 112,587,120 (2003 - 111,239,056 ) to reflect the
dilutive effect of outstanding share options.

3 ANALYSIS OF NET BORROWINGS
At 1 August Cash Exchange At 31 July
2003 flows differences 2004
As restated
#000 #000 #000 #000

Cash at bank and in hand 88,392 23,564 (14) 111,942
Bank loans due within one year - (15,000) - (15,000)
Bank loans due after more than one year (130,000) (30,000) - (160,000)
_______ _______ _______ _______
Totals (41,608) (21,436) (14) (63,058)
===== ===== ===== =====


4. PRIOR YEAR RESTATEMENT

The Group has adopted Urgent Issues Task Force Abstract 38 : 'Accounting for
ESOP Trusts' for the year ended 31 July 2004. Ordinary shares in Bellway
p.l.c. held in employee share ownership plans were previously reported as
fixed asset investments. The shares are now reported as a deduction from
shareholders' funds.

At 31 July 2004 the carrying value of these shares was #2,160,000 which has
been set against profit and loss reserves. The comparative figures for fixed
asset investments, cash at bank and in hand and profit and loss account
reserves have been amended to reflect the change in treatment. The figures
for 31 July 2003 have been restated such that fixed asset investments have
been reduced by #1,436,000, cash at bank and in hand has been increased by
#91,000 and profit and loss account reserves has been reduced by #1,345,000.

5. The financial information set out above does not constitute the company's
statutory accounts for the years ended 31 July 2003 or 2004 but is derived
from those accounts. Statutory accounts for 2003 have been delivered to the
registrar of companies and those for 2004 will be delivered following the
company's annual general meeting. The auditors have reported on those
accounts; their reports were unqualified and did not contain statements
under section 237(2) or (3) of the Companies Act 1985.



This information is provided by RNS
The company news service from the London Stock Exchange

[soysoy] 18/10/2004 07:05

Bellway
The housebuilder will maintain its impressive record of growth tomorrow when profits for the year to July 31 are expected to come in at £196m, against £169.3m for the year earlier. That will be the 13th year in a row that the Newcastle-based company has improved its figures.
Bellway said in August that half of its sales target for the current year had already been met, but analysts will still be anxious about the company's outlook as rivals such as George Wimpey and Gleeson recently issued cautious statements.
Much of Bellway's growth has come from increasing its geographical coverage while it also has a wide range of properties and a prudent land buying policy.
AFTER a flood of retailers reporting trading statements in recent weeks, attention shifts to a more varied spread of corporate news this week.
Drinks firms are among those coming to prominence with Diageo, maker of Johnnie Walker Scotch whisky and Guinness stout, set to come under pressure at its annual shareholder meeting on Wednesday.
Corporate governance bodies have advised investors to abstain from voting on the spirits group's remuneration report and the re-election of auditor KPMG. They are concerned about Diageo's plan to shift directors' pay from bonuses to longer-term incentives and raise the maximum pay-out to 375% of salary.
Also of concern is the fact that several non-executive directors have commitments at other companies.
A trading statement from Diageo is expected to confirm organic sales growth of 6% while currency movements will cost around £100m in the current year.

Allied Domecq
Emphasis shifts back to profits on Thursday with a healthy full-year rise expected from Allied Domecq after the owner of brands including Beefeater gin and Tia Maria posted a strong second-half trading update last month.
The City is looking for profits of £526.5m in the year to August 31, up from £495m a year earlier, as the group benefits from continued growth in spirits and premium wines and at the Quick Serve Restaurants business, which includes Dunkin' Donuts and Baskin-Robbins ice-cream parlours.
In terms of future prospects, analysts have been encouraged by the way the distillers' market has shown greater pricing power than the brewing sector. Further efficiency gains should also boost the stock in the future.

Prudential
The insurance giant issues third-quarter sales figures tomorrow with hopes high that it can continue to show a recovery in its UK market and report further progress in Asia, where it is active in 12 countries. Stockbroker Charles Stanley does not hold forecasts for the quarter but said anecdotal evidence suggested that the Pru had continued to build on the strong operational performance reported over the first half.
In the United States, the Pru's subsidiary Jackson Life appears to have turned the corner and should be well positioned to benefit from its product range and regional diversity, the broker said.

Wm Morrison
Analysts are not expecting any surprises from the new owner of Safeway when it reports half-year figures on Thursday.
July's trading statement and accompanying profit warning gave clear guidance for interim pre-tax profits, which are expected to come in at around £140m.
Attention is more likely to focus on current trading in the former Safeway store estate, and whether price cuts have started to spark the necessary increases in volumes and what sort of sales growth the converted stores are producing.
Analysts at Charles Stanley are looking for an improvement in like-for-like sales growth on the -6% reported for the five weeks to June 20.

Reckitt Benckiser
Investors in Harpic-to-Mr Sheen group Reckitt Benckiser will be keen to discover the extent of its exposure to higher raw material costs when it reports third-quarter figures tomorrow.
They will also be interested in the Anglo-Dutch group's comments about how much of those costs it can pass to customers.
An update will also be welcome on the firm's decision to start selling branded products through supermarket discounter Lidl.
Reckitt has said it remains confident about delivering 7% organic top line growth and an 18% improvement in net income, which should be helpful to investors at a time when rivals Unilever and Colgate have made disappointing trading comments.

Bellway
The housebuilder will maintain its impressive record of growth tomorrow when profits for the year to July 31 are expected to come in at £196m, against £169.3m for the year earlier. That will be the 13th year in a row that the Newcastle-based company has improved its figures.
Bellway said in August that half of its sales target for the current year had already been met, but analysts will still be anxious about the company's outlook as rivals such as George Wimpey and Gleeson recently issued cautious statements.
Much of Bellway's growth has come from increasing its geographical coverage while it also has a wide range of properties and a prudent land buying policy

[gorse] 15/10/2004 17:35

I topped up at 660.5 today - spreadbet with CMC - with a narrow spread. Also longed BDEV at 518.5.

Gorse

[soysoy] 15/10/2004 17:10

yes bought at beging of thread 670p
should of tuck profits i know i am learning
bought some more yesterday at 670p
results tuesday 19 oct company saying they going to be good
got could divi last year and reckon more this year
should take up to 780 to 800
seem`s to get drag up and down with other building stock
company looks at small low cost housing always demand for these
i think there big spread with spread bets on this
GO EX DIVI 12 DEC SO SHOULD SEE GOOD RISE TILL THEN

[eastbourne1982] 15/10/2004 17:00

soysoy - At the time you created this thread in February the price was between £6.50p and £7, it then shot up to over £8. So initially it was a very good call on your behalf, did you sell or lock in some profits and are you topping up now, I am considering a small long at some stage, do you think todays bit of blue was false hope.

[soysoy] 15/10/2004 16:51

least up today

[soysoy] 14/10/2004 20:11

SEEN BETTER CHARTS

[soysoy] 14/10/2004 20:10

MORE BUY THE SELLS TODAY GOOD RISE TOMORROW

[soysoy] 14/10/2004 13:30

Updating with further details)

LONDON (AFX) - Housebuilder Bellway PLC said it is on course for another
"record" set of full year results after homes sales increased to 6,610 from
6,278 in the last 12 months.
The company also said operating margins are ahead of last year's levels and
there has been an increase of some 7 pct in the average selling price to around
160,000 stg.
"In accordance with the board's organic growth plans, the group expects to
increase the number of homes sold in the coming twelve months," it added.
The forward order book stands at a record level of 587 mln stg, representing
more than 50 pct of the current target for the year.
The company said it remains confident for the future based on "increasing
geographical coverage.... and prudent land buying".
Full year results are due Oct 19.
bam

[bingobingy] 14/10/2004 13:11

Told you it was too cheap. I'm in Bellway and McCarthy & Stone. Sectors due a re-rating. UK Coal looking very good too. 200+ by Christmas I feel looking at the present chart.

[murrays] 14/10/2004 12:12

soysoy

Are you sure it isn't going to be negative news on Monday...price going down and down!

[soysoy] 14/10/2004 09:51

just toped with 90 shares