19/10/2000
A bumper set of results for the year to 31 July sent national housebuilder Bellway's share price rising. The company's market value went up 11% in three days following the results, which showed pre-tax profits up 31% to £89.1m on turnover up 26% to £634m. As a result, the company increased its dividend to 12.4p per share, an increase of 10%. For the future, a gearing ratio of just 5%, a land bank of 15,500 plots (mostly brownfield) and current yearly return on capital employed standing at a very impressive 27.1%, bode well. Even after the recent price rises, Bellway still sits on a forward p/e of just 5, par for the course within this neglected and still poorly-regarded sector.
| Market cap: | £332.9m |
| PE Average: | 9.1 |
| PE Forecast: | 4.9 |
| PE Historic: | n/a |
| Share price: | 230.5p |
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