The 2021 proposed final dividend is subject to approval by shareholders at the Bellyway PLC Annual General Meeting on 6 December 2021 and, in accordance with IAS 10 'Events after the Reporting Period', has not been included as a liability in these financial statements. The proposed final dividend, subject to shareholder approval, will be paid on 12 January 2022 to all ordinary shareholders on the Register of Members on 3 December 2021. The ex-dividend date is 2 December 2021. At the record date for the final dividend for the year ended 31 July 2021, shares were held by the Bellway Employee Share Trust (1992) (the 'Trust') on which dividends had been waived
Other financial highlights include:
Revenue rose by 40.3% to £3,122.5 million (2020 - £2,225.4 million, 2019 - £3,213.2 million), only 2.8% below the record level achieved in financial year 2019.
The number of housing completions rose by 34.8% to 10,138 (2020 - 7,522, 2019 - 10,892).
Good underlying demand across the country, with a private reservation rate of 169 per week (2020 - 141, 2019 - 160), an increase of 19.9% and 5.6% compared to the prior year and financial year 2019 respectively.
Underlying profit before taxation rose by 71.6% to £530.8 million (2020 - £309.3 million, 2019 - £662.6 million).
A front-footed and early re-entry into the land market, with a record 19,819 plots contracted (2020 - 12,124 plots, 2019 - 13,284 plots), at a value of £1,066.0 million (2020 - £777.7 million, 2019 - £787.7 million), provides the opportunity for volume growth and margin recovery in the years ahead.
Strong balance sheet, with year-end net cash of £330.3 million (2020 - £1.4 million, 2019 - £201.2 million) and committed debt facilities of £500 million as at 18 October 2021, together ensure that Bellway retains strategic flexibility and can proactively respond to new investment opportunities.
