Shares Podcast: Bellway with Maynard Paton & Roland Head

A 77-year history has seen Bellway (LON:BWY) weather several previous housing slumps. In this new podcast, Maynard Paton and I discuss whether the shares offer a buying opportunity.

Shares Podcast: Bellway with Maynard Paton & Roland Head
Photo by Matt Botsford on Unsplash

In this month's episode of the Private Investor's Podcast, my good friend Maynard Paton and I have been discussing FTSE 250 housebuilder Bellway (LON:BWY).

The topics we discussed included:

  • My purchase of Bellway shares at £17
  • Bellway's 77-year history
  • The company's track record as a dividend stock in a highly cyclical sector
  • My hopes for a 10% annualised total return from my shareholding
  • How house prices (and Bellway's profits) have changed since the 1980s...
  • What happened to Bellway in 2008 ... and could it happen again now?
  • Bellway's balance sheet, cash flow, and land bank
  • Management quality and experience
  • A disturbing trend in the top execs' incentive packages
  • Bellway's shrinking order book and falling profit forecasts
  • Our views on valuation and whether the shares are cheap enough to buy
  • The outlook for the UK housing market

This podcast was recorded on 17 May 2023.

I hope you enjoy it. As always, all feedback is very welcome!


Disclosure: Roland owned shares in Bellway at the time of the recording.

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