LONDON (dpa-AFX) - Bellway p.l.c. (BWY.L), in its trading update for the year ended 31 July 2023, said that it delivered housing revenue of around 3.4 billion pounds, a decrease of 3% from last year's 3.52 billion pounds.
Total housing completions declined to 10,945 homes from 11,198 homes in the previous year. The overall average selling price decreased by over 1% to 310,000 pounds from the prior year's 314,399 pounds, primarily driven by a lower proportion of private completions.
The Board continues to expect to maintain the total dividend for financial year 2023, in line with the prior year payment of 140.0 pence per share. The 100 million pounds share buyback program is progressing well, and 2.9 million shares have been purchased in the period at a cost of around 66 million pounds.
Looking beyond the near term, the Board is confident that the company's operational strengths and land bank depth leave the Group well-placed to capitalize on future growth opportunities when they arise, Bellway said in a statement.
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