The Bellway plc annouce announced an interim dividend was approved by the Board on 25 March 2024 and, in accordance with IAS 10 'Events after the Reporting Period', has not been included as a liability in these condensed consolidated interim financial statements. The interim dividend will be paid on Monday 1 July 2024 to all ordinary shareholders on the Register of Members on Friday 24 May 2024. The ex-dividend date is Thursday 23 May 2024.
Other Financial highlights include:
Housing completions of 4,092 homes (2023 - 5,695 homes) at an overall average selling price of £309,278 (2023 - £316,929), both in line with the Board's expectations.
Total revenue of £1,273.1 million (2023 - £1,809.3 million), a reduction of 29.6% driven primarily by the lower level of private reservations in the prior year.
The private reservation rate in the first half of financial year 2024 increased by 15.4% to 105 per week (2023 - 91), representing a private reservation rate per outlet per week of 0.43 (2023 - 0.38).
The underlying operating margin was 11.0% (2023 - 17.6%), with the reduction reflecting the effect of lower volume output, cost inflation and the use of sales incentives, together with extended site durations.
Underlying profit before taxation was £134.2 million (2023 - £312.1 million).
