Bellway PLC (OTCPK:BLWYF)

$ 34 0 (0%) Market Cap: 4.06 Bil Enterprise Value: 3.97 Bil PE Ratio: 15.13 PB Ratio: 0.94 GF Score: 73/100

Half Year 2021 Bellway PLC Earnings Call Transcript

Mar 24, 2021 / 09:30AM GMT

Release Date Price: $45.6

Transcript

Jason Honeyman

Bellway p.l.c. - Group CEO & Executive Director

Good morning, and welcome to Bellway's half year results. My intention this morning is to firstly provide an overview of the business. Keith will then take you through the numbers. And I will close with some detail on land and operational matters, together with an update on current trading.

I'm pleased to report that productivity levels are now returning to normal as the impact from COVID reduces. Whilst December and January were understandably challenging months, I've been hugely impressed with the response and resilience from our build and sales teams whose collective performance has resulted in a record half year volume of 5,656 homes. And despite the restrictions imposed from the current lockdown, the selling environment has been surprisingly robust. Sales rates have generally held up well. Private reservations were 3% ahead in the first half and in the first 6 weeks in H2, behind by 9%, but that's against a strong post-election comparator period in 2020. So overall, it gives me cause for optimism for the spring selling

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