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(Sharecast News) - UK housebuilder Bellway held guidance but said customer demand had moderated in recent weeks after a positive start to the spring selling season as geopolitical tensions pushed energy and fuel costs higher.
"The outlook beyond the current financial year remains uncertain, reflecting ongoing geopolitical tensions in the Middle East and a less predictable domestic political environment," the company said in a trading update on Tuesday.
Bellway still expects annual underlying operating profit within a range of 320m - 330m.
"Trading in the early part of the spring selling season showed a marked improvement compared to autumn 2025, however we have seen a moderation in customer demand in April and May in response to the recent rise in mortgage rates," the company added.
"There is renewed upward pressure on building material costs stemming from higher fuel and energy input costs, and we are seeing increased prices and the introduction of surcharges by certain supply chain partners."
Current reservation rates were still generally above first half levels, with incentive usage averaging around 5%.
Reporting by Frank Prenesti for Sharecast.com
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