skip to content

Trading statements

Bovis Homes turnaround on track

06 July 2017 07:20

Bovis Homes said first half trading was in-line with its expectations.

Th group said that as announced in February, it slowed the rate of production for 2017 and it continues to expect to deliver completion volumes for the full year c. 10% to 15% below the 2016 level.

It said: "In the first half we delivered 1,512 (2016: 1,601) completions of which 1,140 (2016: 1,212) were private units.

"The Group's sales rate of 0.48 (2016: 0.62) net private reservations per site per week in the half is in-line with our 2017 production plans and reflects a controlled sales release across a number of our developments and our priority focus on customer service.

"We have opened 15 new sites in the period and operated from an average of 96 (2016: 100) active sales outlets."

Group chief executive Greg Fitzgerald said: "The trading performance in the first half of our financial year is in-line with management expectations.

"In the past 11 weeks I have spent a good amount of time with each of our operating regions, visited 85 sites and met the vast majority of our people.

"We continue to identify and implement operational improvements and I am very confident we can deliver a successful turnaround, returning Bovis Homes to being a leading UK housebuilder.

"I look forward to providing an update on the group's strategy with the presentation of our half year results in September."

Story provided by StockMarketWire.com

Related Company: BVS

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

Bluezest Aberdeen

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.