Shares of Newcastle-based housebuilder Bellway plc fell around 10% after it published “robust” first-half results but its CEO warned the ongoing conflict in the Middle East “heightens the risk of both inflationary cost pressures and an impact to customer demand.”

Bellway CEO Jason Honeyman said the firm has “already seen volatility return to the mortgage market.”

Publishing interim results for the half year ended January 31, 2026, Bellway said first-half total revenue was 6.3% higher at £1.52 billion and underlying profit before tax edged 0.5% higher to £150.9 million.

Interim dividend per share rose 9.5% to 23p.

Growth in total housing completions was 2.7% to 4,702 homes (2025 – 4,577) at an average selling price of £322,180 (2025 – £310,581).

On recent trading and outlook, Bellway said its forward order book at March 13, 2026, comprised 5,311 homes (16 March 2025 – 5,582 homes) with a value of £1.551 billion (16 March 2025 – £1.581 billion).

CEO Honeyman added: “Bellway has delivered a robust first half performance in a challenging market. While our industry continues to face several headwinds, we have seen an improvement in customer demand and reservations since the start of the new calendar year.

“At this stage, the situation in the Middle East has not had a material impact on trading and, supported by our forward order book, we are on track to deliver FY26 underlying operating profit within the range of £320m – £330m.”