UK homebuilder Bellway gains on annual revenue beat
** Shares of Bellway BWY.L up 2.6% to 2,728p; stock among top pct gainers on FTSE 250 .FTMC index
** The British midcap housebuilder reports a smaller-than-expected drop in annual revenue, and says buyer confidence was improving following a drop in mortgage rates
** FY revenue falls 31% to 2.35 bln pounds ($3 bln), ahead of LSEG analysts' average forecast of 2.27 bln pounds
** BWY says forward order book - a key industry metric gauging demand - stood at 1.41 bln pounds at FY end vs 1.19 bln pounds yr ago
** "There is a more positive tone around recent trading and confidence which, together with a much stronger order book and higher site numbers, should support growth in FY25, assuming the market holds up as expected" - Investec
** Including session's gains, stock up ~6% YTD
($1 = 0.7837 pounds)
Reporting by Aby Jose Koilparambil in Bengaluru
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