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13 October 2026 Bellway Bellway p.l.c. today announces its full year results for the year ended 31 July 2026 . Robust performance , strong cash generation and enhanced shareholder returns Jason Honeyman , Chief Executive , commented : " Bellway has delivered a robust performance , growing both volume output and profits despite ongoing challenges across the housing market . Our continued focus on operational improvement and capital efficiency has enhanced resilience , driven a significant 36 % increase in adjusted operating cashflow and supported higher shareholder returns . Against a backdrop of near - term economic uncertainty , our priorities remain clear : allocating capital with discipline , maintaining a strong balance sheet with low gearing and investing selectively in land to support future growth . The £ 150m FY27 share buyback programme announced today is expected to take total dividends and share buybacks across FY26 and FY27 to c . £ 450m , reflecting our financial strength , cash generation and commitment to delivering long - term shareholder value . The UK continues to face a substantial shortage of new homes , while affordability remains a major barrier for many prospective buyers . We therefore welcome the Government's proposed Your First Home scheme , which has the potential to provide significant support for first - time buyers . We look forward to further detail on the scheme and to engaging with Government on its design and implementation . Bellway has the financial strength , operational capability and land bank to respond as market conditions improve and increase the delivery of much - needed new homes over the medium term . ” Financial highlights Total housing completions increased by 10.8 % to 9,695 homes ( 2025 : 8,749 ) at an average selling price of £ 324,404 ( 2025 : £ 316,412 ) . Total revenue increased by 13.6 % to £ 3,162.2m ( 2025 : £ 2,782.8m ) . Underlying operating profit increased by 5.6 % to £ 320.6m1,2 ( 2025 : £ 303.5m ) and the underlying operating margin reduced to 10.1 % 1,2 ( 2025 : 10.9 % ) . Net adjusting expense relating to legacy building safety , before taxation , totalled £ 35.2m ( 2025 : £ 51.8m ) . This comprised an adjusting finance expense in line with previous guidance , of £ 13.2m ( 2025 : £ 14.4m ) , £ 32.0m ( 2025 : £ 37.6m ) for the net increase in overall cost estimates , and recoveries of £ 10.0m ( 2025 : £ 0.2m ) . Growth in underlying profit before taxation of 5.7 % to £ 305.7m 1,2 ( 2025 : £ 289.1m ) . Reported profit before taxation was £ 270.2m ( 2025 : £ 221.9m ) . Adjusted operating cashflow increased by 36.0 % to £ 868.6m¹² ( 2025 : £ 638.9m ) , driven by our disciplined management of work - in - progress and our focus on capital efficiency . The proposed total dividend has increased by 7.1 % to 75.0p per share ( 2025 : 70.0p ) . In addition to the ordinary dividend , the Board intends to return £ 150m to shareholders through a share buyback programme during FY27 , with the first tranche of £ 50m launched in September 2026 and today increased to £ 75m . Bellway has a strong balance sheet with year end net cash of £ 157.7m¹ ( 2025 : £ 41.8m ) and low adjusted gearing , including land creditors , of 3.0 % ¹ ( 2025 : 8.3 % ) . Operational highlights and management actions The private reservation rate per outlet per week , including bulk sales , was 0.55 ( 2025 : 0.57 ) . The private reservation rate excluding bulk sales was 0.49 ( 2025 : 0.52 ) . The Group traded from an average of 238 outlets in FY26 ( 2025 : 246 ) , in line with our expectations , with a closing position of 253 outlets as at 31 July 2026 ( 2025 : 249 ) . We have a strong land bank which at 31 July 2026 comprised a total of 94,666 plots³ ( 2025 : 95,704 plots ) and included 45,992 Bellway owned and controlled plots ( 2025 : 47,144 plots ) .