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Bellway shares drop 6.7% after steady results amid mortgage market volatility from Middle East conflict

Company Fundamentals
24 Mar 2026
Proactive Investors
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Bearish
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Bellway PLC reported steady interim results with a 3% rise in home completions and a slight 1.5% increase in operating profit to £159 million, though margins slipped to 10.5%. The company’s net debt increased due to land investments, while the land bank grew modestly. CEO Jason Honeyman highlighted ongoing Middle East conflict risks causing mortgage market volatility and inflationary pressures but expressed confidence in the company’s strategy to boost cash generation and shareholder returns. Bellway raised its interim dividend by 9% and completed part of a £150 million buyback, but shares fell 27% this year amid sector-wide housing demand weakness and geopolitical uncertainty.

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