Share Prices & Company Research

Market News

09 Jul 2019 | 07:16

Bovis Homes reports 'excellent' half yearly performance amid 'significant' improvement in profits

Homebuilder Bovis Homes reported 'excellent' first-half performance amid 'significant' improvement in profitability, following a step up in sales growth. For the six month period ended 30 June, its average private sales rate per site per week rose 15% to 0.6 from 0.52 a year earlier.

The group delivered a total of 1,647 homes, up 4% from 1,580 last year. Of this 1,031 were private units and 616 affordable. The company said it expected to deliver a similar number of affordable homes this year compared to last year. The total average selling price increased by about 3% to £270,000. The private average selling price in the period increased to about £342,000 from £334,700 a year earlier, driven by an improved geographical spread of sales outlets with overall underlying pricing remaining 'broadly flat,' according to the homebuilder. The company said it expected to open a further 13 new sites this year, after opening 10 new developments in the half. 'We start the second half of the year with a strong forward sales position and are confident of delivering completions in line with our expectations for the year,' Bovis said.



Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.