UK's Bellway forecasts higher home deliveries in fiscal year 2026
While falling interest rates and expanded government support have improved prospects for UK homebuilders, persistent inflation and sluggish economic growth have renewed affordability concerns among buyers.
"Despite the softer market conditions in recent months, we have entered the new financial year with a healthy order book," Bellway said in a statement.
The company reported 8,749 housing completions for the year ended July 31, compared with 7,654 homes in the prior year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times
an hour ago
- Times
Dragons' Den star Sara Davies increases stake in business she founded
A star of Dragons' Den is increasing her stake in the crafting company she founded as the owner of WH Smith sells its holding in the business. Sara Davies, a panellist on the popular BBC show, has increased her holding in Crafter's Companion after joining efforts to turn around the company when it filed for administration earlier this year. Davies, 41, founded the business from her bedroom at York University and built it into an international seller of paper craft, art and sewing products, with a reported valuation of more than £25 million in 2019. She returned as chief executive of Crafter's Companion earlier this year when it was sold through a fast-track pre-pack administration to Modella Capital, the investment firm that has since purchased the WH Smith store portfolio. Modella has now sold its interest to Maven Capital Partners, an investment firm headquartered in Glasgow, and Davies, who founded the company 20 years ago. Crafter's Companion swung back to profitability in May following Davies's return. She is now standing down as chief executive and will hand over day-to-day running of the business to Diane Sharp, who was initially brought in as a financial controller and was subsequently promoted to managing director. The company is opening a warehouse in the US in the coming weeks as its products were caught by the Trump administration's decision to end a tariff exemption on imports of goods valued at $800 or less. Davies had stayed as a non-executive with Crafter's Companion when it was sold to Growth Partner, a long-term backer, in 2024. She said the business lost its way when the new management team brought in to run the company shifted its focus from die-hard crafters towards a more general audience. She told The Times: 'We are excellent in our product development and our biggest investment in our company is in product development. They radically cut our product development teams down and wanted to source off-the-shelf product from China. 'Our customers are generally older, retired ladies who have time on their hands and plenty of money. The strategy pivot went after a much broader audience. And in my eyes, we have no right to win there. We don't compete on price; we deliver exceptional products which are at the higher end of the market.' The financial details of the transaction were not disclosed but it is understood that Davies will significantly increase her minority shareholding in the business, with Maven owning a majority stake.
Reuters
2 hours ago
- Reuters
Jewellery chain Claire's UK business falls into administration with 2,150 jobs at risk
LONDON, Aug 13 (Reuters) - More than 2,150 jobs are at risk after the UK business of struggling jewellery chain Claire's called in administrators. Insolvency practitioners Interpath said on Wednesday they had been appointed joint administrators to Claire's Accessories UK Ltd, the operator of Claire's 306 stores across the UK and Ireland. The move comes a week after its parent filed for bankruptcy protection in the United States. Headquartered in Birmingham, central England, Claire's is known for its trend-led accessories and as a destination for ear piercing. The administrators said they intend to continue to trade the business while they assess its options, including exploring the possibility of a sale as a going concern. As such, all UK and Ireland stores will remain open. However, customers will no longer be able to place orders online. 'Over the coming weeks, we will endeavour to continue to operate all stores as a going concern for as long as we can, while we assess options for the Company," Will Wright, Interpath's UK CEO, said. "This includes exploring the possibility of a sale which would secure a future for this well-loved brand."
The Sun
3 hours ago
- The Sun
Boss of huge car firm warns brands are ‘heading full speed into a wall' and could ‘collapse' over EVs
EUROPE'S car industry is 'heading at full speed against a wall' and risks collapsing if the EU doesn't rethink its ban on new petrol and diesel cars, the boss of a huge car firm has warned. In a stark intervention, he said a 'reality check' was needed before the 2035 ban on combustion-engine sales is locked in. 3 3 3 Mercedes-Benz boss Ola Källenius told German business paper Handelsblatt: "We need a reality check. Otherwise, we are heading at full speed against a wall. "Of course, we have to decarbonise, but it has to be done in a technology-neutral way. We must not lose sight of our economy." The luxury brand — once gung-ho about going fully electric in Europe — has already dropped its ambitious 2021 pledge to stop selling combustion cars 'where market conditions allow' by the decade's end. Källenius, who also heads the European Automobile Manufacturers' Association (ACEA), now warns the EU's policy could trigger a last-minute rush for petrol and diesel cars before the cut-off, which 'doesn't help the climate at all.' Electric cars remain far from dominating the market. In the first half of this year, EVs made up just 17.5 per cent of sales across the EU, UK, and EFTA countries, while plug-in hybrids took 8.7 per cent. Traditional hybrids accounted for 35 per cent, but that figure includes mild-hybrids, which critics say aren't 'true' hybrids. Mercedes' own figures show EV sales slipping — just 8.4 per cent of its global deliveries in the first six months of 2025, down from 9.7 per cent last year. Even with plug-ins included, electrified models made up just 20.1 per cent of shipments. The EU's 2035 ban is due for review in the coming months, but Brussels has so far signalled no U-turn, reiterating in March its commitment to zero-emission new cars by the mid-2030s. It comes as the boss of Stellantis — the giant behind 14 brands including Fiat, Peugeot, and Maserati — warned that unreachable EU CO2 targets could force plant closures. Europe chief Jean-Philippe Imparato said the Franco-Italian group faces fines of up to €2.5 billion within 'two-three years' if it fails to meet emissions rules. Without a regulatory rethink by year-end, 'we will have to make tough decisions,' he told a conference in Rome. 'I have two solutions: either I push like hell (on electric)… or I close down ICE (internal combustion engine vehicles). And therefore I close down factories,' he said, pointing to the risk for sites such as Stellantis' van plant in Atessa, Italy. The warning comes amid fresh turmoil for Stellantis, with its new CEO Antonio Filosa inheriting the fallout from Donald Trump's 25 per cent US import tariffs and a crisis at Maserati, which has seen sales plunge from 26,600 in 2023 to 11,300 last year. With EV targets biting, petrol and diesel models under threat, and luxury brands cancelling investments — including Maserati's £1.3bn electric MC20 Folgore — Europe's car bosses are sending a clear signal to Brussels: ease off, or risk slamming the brakes on the continent's auto industry.
