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06 Sep 2018 | 08:16

Bovis Homes sees full-year profit at top end of expectations

Housebuilder Bovis Homes said Thursday it expected full-year profit would come in at the top end of management’s expectations as first-half profit surged.

'The group now expects profits for FY18 to be at the top end of the Board's expectations,' Bovis said.

For the six months to 30 June, profit before tax rose 41% to £60.2m and revenue rose 1% to £432.2m.

The upbeat results were supported by a 'step change in the quality of the homes we are building and level of service we are providing our customers,' said Greg Fitzgerald, Chief Executive.

Barratt's house-building volumes came in at 1,580, up 4% from 1,512 the previous year, while its average selling price was flat at £334,700.

The company reported a strong sales position with 96% of 2018 sales secured.

At 8:16am: (LON:BVS) Bovis Homes Group PLC share price was +22.25p at 1153.75p

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