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The Markets
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Builders and building materials

Bellway has big week ahead as Crest decision looms

Bellway PLC (LSE:BWY) trading update comes a day after the formal offer deadline on its approach for rival housebuilder Crest Nicholson.

Surrey-based Crest said it was minded to recommend the all-share approach, which values it at around £720 million or 273p per share.

Prior to the election, consolidation among the housebuilders had been accelerating but with the new government promising to build new homes everywhere if attitudes have changed will be worth noting.

In June, Bellway said it was on course to deliver 7,500 homes this year at a selling price of £305,000 though it added the election was having a temporary impact on sales.

“Notwithstanding this, the outlook is improving and there is cross-party political support for increasing the supply of housing across the country,” said Bellway.

The trading statement is due on 9 August.

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