Bellway PLC has announced its Preliminary Results for the year ended 31 July 2023. Despite challenging market conditions, the company delivered a resilient performance and maintained operational strength. Housing completions decreased by 2.3% to 10,945, while revenue decreased by 3.7% to £3,406.6 million. The underlying performance measures also saw a decline, with gross profit, operating profit, and earnings per share all decreasing compared to the previous year. However, the company's net legacy building safety expense decreased significantly by 85.7% to £49.6 million. Profit before taxation increased by 58.8% to £483.0 million, and earnings per share increased by 51.2% to 297.7p. The proposed total dividend per share remains unchanged at 140.0p. The company's net asset value per share increased by 5.3% to 2,871p, and net cash decreased by 5.4% to £232.0 million. The land bank remained stable at 98,164 plots. Bellway's CEO, Jason Honeyman, commented that the company's operational strength and experienced teams will enable it to navigate a changing market and continue delivering high-quality homes to customers. The company's robust balance sheet and land bank provide strategic flexibility and scope for outlet growth in the future. Despite near-term market challenges, Bellway remains well-positioned to capitalize on future growth opportunities and create long-term value for stakeholders.