5-year record

On this page:

Income Statement

 

2019 

2020

2021

2022

2023

 

£m

£m

£m

£m

£m

Revenue

3,213.2 2,225.4 3,122.5 3,536.8 3,406.6

Operating profit

674.9 321.73 531.53 653.23 543.93 

Net finance expenses

(14.4) (13.4)3 (11.1)3 (12.1)3 (9.9)3 

Share of results of joint ventures

2.1 1.0 10.4 9.3 (1.4)

Profit before taxation

662.6 309.33 530.83 650.43 532.63 

Income tax expense

(124.0) (57.6)3 (98.1)3 (131.9)3 (130.4)3 

Profit for year
(all attributable to equity holders of the parent)

538.6 251.73 432.73 518.53 402.23 

 

Balance Sheet

 

2019

2020

2021

2022

2023

 

£m

£m

£m

£m

£m

ASSETS

         

    Non-current assets

83.2 99.3 102.1 71.6 79.4
    Current assets 3,806.7 3,984.3 4,574.7 4,913.5 5,034.7
LIABILITIES           
    Non-current liabilities (99.4) (133.8) (316.9) (646.3) (647.0)
    Current liabilities (869.3) (955.8) (1,072.1) (971.0) (1,005.5)
EQUITY           
    Total equity 2,921.2 2,944.0 3,287.8 3,367.8 3,461.6

Statistics

 

2019

2020

2021

2022

2023

Number of homes sold 10,892 7,522 10,138 11,198 10,945
Average price of new homes £292.0k £293.1k £306.5k £314.4k £310.3k
Underlying gross margin2 24.6% 19.0%3 20.9%3 22.3%3 20.2%3
Gross margin  24.6% 15.7% 19.2% 12.5% 19.0%
Underlying operating margin2 21.0% 14.5%3 17.0%3 18.5%3 16.0%3
Operating margin  21.0% 11.2% 15.4% 8.7% 14.8%
Basic earnings per ordinary share 437.8p 156.6p 316.9p 196.9p 297.7p
Dividend per ordinary share 150.4p 50.0p 117.5p 140.0p 140.0p
Underlying return on capital employed2 24.7% 10.8%3 16.9%3 19.4%3 15.8%3
Return on capital employed2 24.7% 8.3% 15.2% 9.2% 14.7%
Gearing (including preference shares)2 - - - - -
Net asset value per ordinary share2 2,372p 2,427p 2,664p 2,727p 2,871p
Land portfolio - plots with planning permission 26,421 28,289 30,933 32,344 32,229
Weighted average no. of ordinary shares  123,012,723 123,205,211 123,306,035 123,227,544 122,593,350
No. of ordinary shares in issue at end of year 123,167,828 123,345,834 123,396,422 123,486,260 120,558,573

2  Bellway uses a range of statutory performance measures and alternatives performance measures when reviewing the performance of the Group against its strategy. Definitions of the alternative performance measures, and a reconciliation to statutory performance measures, are included in note 28 of the 2022 Annual Report.

3  Underlying refers to any statutory performance measure or alternative performance measure before net legacy building safety expense and exceptional items

** Restated due to the adoption of IFRS 15 ‘Revenue from contracts with customers’.