Visit Bellway
5-year record
Income Statement
| 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|
| £m | £m | £m | £m | £m | |
| Revenue | 3,536.8 | 3,406.6 | 2,380.2 | 2,782.8 | 3,162.2 |
| Operating profit1,2 | 653.2 | 543.9 | 238.1 | 303.5 | 320.6 |
| Net finance expenses1,2 | (12.1) | (9.9) | (9.7) | (12.9) | (15.1) |
| Share of results of joint ventures1,2 | 9.3 | (1.4) | (2.3) | (1.5) | 0.2 |
| Profit before taxation1,2 | 650.4 | 532.6 | 226.1 | 289.1 | 305.7 |
| Income tax expense2 | (131.9) | (130.4) | (65.5) | (79.4) | (87.0) |
| Profit for year1,2 (all attributable to equity holders of the parent) | 518.5 | 402.2 | 160.6 | 209.7 | 218.7 |
Balance Sheet
| 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|
| £m | £m | £m | £m | £m | |
| ASSETS | |||||
| Non-current assets | 71.6 | 79.4 | 88.6 | 103.2 | 101.7 |
| Current assets | 4,913.5 | 5,034.7 | 4,911.1 | 5,091.3 | 4,992.4 |
| LIABILITIES | |||||
| Non-current liabilities | (646.3) | (647.0) | (600.8) | (571.0) | (590.1) |
| Current liabilities | (971.0) | (1,005.5) | (933.5) | (1,067.3) | (983.2) |
| EQUITY | |||||
| Total equity | 3,367.8 | 3,461.6 | 3,465.4 | 3,556.2 | 3,520.8 |
Statistics
| 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|
| Number of homes sold | 11,198 | 10,945 | 7,654 | 8,749 | 9,695 |
| Average price of new homes | £314.4k | £310.3k | £307.9k | £316.4k | £324.4k |
| Underlying gross margin1,2 | 22.3% | 20.2% | 16.0% | 16.4% | 15.7% |
| Gross margin | 12.5% | 19.0% | 15.2% | 15.1% | 15.1% |
| Underlying operating margin1,2 | 18.5% | 16.0% | 10.0% | 10.9% | 10.1% |
| Operating margin | 8.7% | 14.8% | 8.9% | 9.0% | 9.5% |
| Basic earnings per ordinary share | 196.9p | 297.7p | 109.8p | 132.8p | 166.1p |
| Dividend per ordinary share | 140.0p | 140.0p | 54.0p | 70.0p | 75.0pa |
| Underlying return on capital employed1,2 | 21.0%^ | 17.1%^ | 7.1%^ | 8.7% | 9.2% |
| Return on capital employed1 | 10.0%^ | 15.9%^ | 6.3%^ | 7.1% | 8.6% |
| Gearing (including preference shares)1 | - | - | 0.3% | - | - |
| Net asset value per ordinary share1 | 2,727p | 2,871p | 2,913p | 2,989p | 3,116p |
| Land portfolio - plots with implement able DPP | 32,344 | 32,229 | 30,787 | 30,554 | 27,092 |
| Weighted average no. of ordinary shares | 123,227,544 | 122,593,350 | 118,830,821 | 118,644,063 | 116,447,219 |
| No. of ordinary shares in issue at end of year | 123,486,260 | 120,558,573 | 118,980,237 | 118,991,699 | 112,974,385 |
Notes:
¹ APM (note 26 to the Group Financial Statements).
² Stated before net legacy building safety expense and other exceptional items.
* All attributable to equity holders of the parent
^ Restated in 2025
a. The total dividend for 2026 includes the proposed final dividend of 52.0p.
