Skip to content

Three Quick Facts: Bellway, Ibstock and Lookers

*

Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Bellway full year results show solid revenue improvement

House builder Bellway LON:BWY has issued preliminary numbers for the full year today, underlined by a strong land bank and resilient balance sheet. Revenues are up 13%, gross profit is almost 21% higher and operating margins have advanced 150 basis points. Perhaps more interesting is the performance in the first weeks of the new financial year however, where pent-up post-pandemic demand is abating and average sale prices are softening as the proportion of social housing transactions rises. Despite well-reported economic headwinds, the company is encouraged by high employment rates and positive changes to stamp duty.

#2. Ibstock full year outlook upgraded

Brick makers Ibstock LON:IBST have Q3 numbers out today. Their fortunes are inextricably linked to the housing market so perhaps no surprise that in light of Bellway’s note, this paints a suitably upbeat picture, too. Trading was ahead of expectations for the period thanks in a large part to effective cost control and management now expect the full year performance to be above previous expectations.

#3. Lookers: optimistic projections despite new car shortfalls continuing

Car dealers Lookers LON:LOOK also have a Q3 statement out today, which headlines with news that management now expect underlying profits for the full year to be improved, coming in at no less than £75m, although this is below the £90m posted for FY21. The cash and property portfolio has appreciated by more than 20% and a share buyback of up to £15m is now underway. Management note however that the availability of new vehicles continues to present challenges and in turn is limiting growth opportunities.

Looking for great investing ideas? Sign up to our free newsletter.

Join us on WhatsApp

This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

'How to' Guides

Our latest in-depth company reports

Detailed reviews of selected companies and investment trusts.

On the podcast

Sign up for great investing stock tips

Thanks to our Site Partners

Our partners are established, regulated businesses and we are grateful for their support.

Aquis
CME Group
FP Markets
Pepperstone
TMX
WisdomTree
Back To Top