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Vox Markets Podcast

Bellway Plc

Bellway pointed to a ‘a resilient performance in a year marked by continued challenges for our industry’, with improved volumes but with a lower margin. It guided to completions and margins below current consensus for FY27E, but that sales could improve in FY28E, partly boosted by the PM’s ‘Your First Home’, the successor to the Conservatives’ ‘Help to Buy’ stimulus for first time buyers.

PROGRESSIVE: Bellway- FY27E outlook softens amid margin pressure

 Housebuilder Bellway said on Tuesday that despite "subdued trading" through autumn, it had delivered a "robust" first half performance, with total housing completions growing 2.7% to 4,702.

Bellway posts 'robust' H1 as completions rise despite subdued autumn trading

UK housing company Bellway said it expected to build 9.600 homes in fiscal 2026 after total completions in the year to July 31 rose 14.3% to 8,749, slightly ahead of guidance.

Bellway sees rise in 2026 completions

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In this investing masterclass, accomplished UK fund manager Abby Glennie of Aberdeen Investments walks me through her view of the markets and latest thoughts on 18 stocks

The Exchange with Abby Glennie of abrdn

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Bango Plc

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Cerillion Plc

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iomart Group Plc

Pinewood Technologies Group PLC Shs

Ricardo

System1 Group

TheWorks.co.uk plc

In this week’s smallcap investing show, UK equity analyst & markets commentator Paul Scott & I discussed our latest thoughts on 16 stock ideas.

Small-cap Investing with Paul Hill and Paul Scott

Construction firm Bellway said on Tuesday that trading has been "robust" through the spring selling season, with its forward order book increasing by 7.7% year-on-year and comprising 5,759 homes as of 1 June.

Bellway forward order book grows, trading 'robust'

Housebuilder Bellway hailed a "strong" first half on Tuesday as it posted a 12% increase in underlying pre-tax profit, citing lower mortgage interest rates and improved consumer confidence.

Bellway cites lower mortgage rates, improved confidence as H1 profits grow

Dunelm Group Plc

FirstGroup Plc

Focusrite Plc

Gattaca

Hvivo

MJ Gleeson Plc

MS International Plc

PZ Cussons Plc

Secure Trust Bank Plc

Speedy Hire Plc

S&U Plc

Tracsis Plc

Vertu Motors

Warpaint London

Wynnstay Group Plc

In this week’s smallcap investing show, UK analyst & stock markets commentator Paul Scott & I discussed our latest thoughts on 22 stocks

Small-Cap Investing with Paul Hill & Paul Scott

Shares in Bellway fell sharply on Tuesday despite the UK housebuilder reporting strong growth for the first half and reiterating its full-year guidance, as the firm highlighted the "sensitivity of customer demand" amid a rise in mortgage rates over recent months

Bellway reiterates guidance but reports subdued autumn activity

Analysts at Berenberg raised their target price on housebuilder Bellway from 2,900.0p to 3,200.0p on Wednesday following the group's FY24 earnings a day earlier.

Berenberg raises target price on Bellway following FY24 earnings

UK housebuilder Bellway on Tuesday reported a slump in annual profits, reflecting weaker demand due to higher mortgage rates, but said its forward order book had increased as economic conditions eased.

Bellway profits slump but sees brighter outlook as reservations rise

Housebuilder Bellway is appointing the former chief financial officer of competitor Cairn Homes as its new CFO, the company announced on Friday.

Bellway appoints former Cairn Homes exec as CFO

UK house builder Bellway on Friday said it expected to return to growth in fiscal 2025 if market conditions remain stable, with signs of an upturn in the market after the recent cut in interest rates.

Bellway sees return to growth in 2025 if market stabilises

Crest Nicholson Holdings

The deadline for Bellway's potential acquisition of Crest Nicholson has been extended, the two companies announced on Thursday, allowing more time for due diligence and negotiation.

Deadline for Bellway to make firm Crest Nicholson offer extended

RBC Capital Markets has hiked its target price for Crest Nicholson from 175p to 250p, but kept an 'underperform' rating after the housebuilder rejected a second takeover offer from peer Bellway.

Bellway takeover might be best option for Crest Nicholson, says RBC

Crest Nicholson confirmed on Friday that it has rejected a second, unsolicited takeover approach from Bellway which valued the group at about £650m.

Crest Nicholson rejects two takeover proposals from Bellway

Housebuilder Bellway has kept its guidance for housing completions this fiscal year but has lifted its forecast for pricing.

Bellway lifts price guidance after strong spring selling season

Interim profits at UK housebuilder Bellway dropped by more than a half on the back of a slump in housing completions and a deterioration in margins, but the company pointed to an improving economic outlook as mortgage rates continue to fall back.

Bellway eyes return to growth as first-half profits slump

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Shell plc

In this highly fascinating interview, fund manager Kartik Kumar of Artemis takes me through the:


Vox Markets Fund Manager Series: Kartik Kumar of Artemis

AdvancedAdvT Limited

Cake Box Holdings

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IQE PLC

XP Factory Plc Ord GBP 0.0125

In this interview, fund manager Richard Penny of Crux Asset Management takes Vox through 16 stocks

Vox Markets Fund Manager Series: Richard Penny of CRUX Asset Management

Bellway Plc

Latest Coverage

PROGRESSIVE: Bellway- FY27E outlook softens amid margin pressure

Bellway posts 'robust' H1 as completions rise despite subdued autumn trading

Bellway sees rise in 2026 completions

The Exchange with Abby Glennie of abrdn

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