UK's Bellway flags near-term demand uncertainty
UK's Bellway flags near-term demand uncertainty
Tue, August 11, 2026 at 6:44 AM UTC
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Aug 11 (Reuters) - British homebuilder Bellway on Tuesday flagged uncertainty in near-term demand from rising build costs and moderating consumer demand, and said it now expects annual underlying operating profit at the lower end of forecast range.
Higher building costs, driven by rising energy prices due to the Iran war, and political uncertainty have weighed on house builders already grappling with high mortgage rates and affordability constraints.
"We are continuing to exercise tight control over our cost base while maintaining a sharp focus on the monetisation of our well-invested land bank and work-in-progress position to support improvements in asset turn and cash generation," the company said.
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Bellway said it now expects fiscal 2026 underlying operating profit of £320 million ($432.10 million), compared with £320 million to £330 million previously expected.
($1 = 0.7406 pounds)
(Reporting by Simone Lobo in Bengaluru; Editing by Subhranshu Sahu)
Source: “AOL Money”
