LONDON (dpa-AFX) - Home builder Bellway Plc (BWY.L) Tuesday reported profit before tax of 305.9 million pounds for the first half of the year, lower than 307.6 million pounds in the same year-ago period.
Excluding one-time items, underlying profit before tax was 312.1 million pounds compared with 327.2 million pounds last year.
Net profit declined to 230 million pounds or 186.1 per share from 250.4 million pounds or 202.3p per share in the previous year.
Underlying profit was 234.6 million pounds or 190.5p per share compared with 266.3 million pounds or 216p per share a year ago.
Revenue for the period increased to 1.809 billion pounds from 1.78 billion pounds last year, helped by strong volume.
An interim dividend of 45p per share has been approved, to be paid on July 3, to shareholders on the register as on May 26.
Separately, the company's Board has approved a share buyback of 100 million pounds, of which the initial tranche of 50 million pounds will be commenced today.
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