The property developer values its net cash at £346 million.
Bellway plc expects to sell 9,800 houses in total this year.
Bellway plc (LON: BWY) said on Tuesday that house-and-flat sales in the fiscal first half jumped to a record high but said that the same momentum is unlikely to sustain in H2.
Bellway shares were reported about 4% up in premarket trading on Tuesday but lost close to 1% on market open. The stock is now exchanging hands at a per-share price of £31.15 versus a low of £18.79 per share in March 2020 when the COVID-19 wreaked havoc on Britain’s housing market. The price action should come in handy if you are interested in investing in the stock market.