Bovis heading for “record” profits

Jan. 16, 2019
<p><span>Bovis Homes is set for a “record” year of profits with another controlled period end, it said today (January 16).</span></p> <p><span>In a trading update ahead of the release of its annual results on February 28, the housebuilder said that during the year to 31 December 2018, it delivered 3,759 new homes in total, rising 3% against 2017. Private homes totalled 2,567 against last year’s 2,573.</span></p> <p><span>The private average selling price on completions was £338,000, up on 2017’s £334,500. The company’s sales rate per outlet per week for the year was 0.5 (2017: 0.48). </span></p> <p><span>Bovis said that following a programme of operational improvements across the business over the past 18 months, it anticipated a “significant” improvement in operating margin for 2018 with year end profits a little ahead of market consensus. Before the changes, the firm encountered customer complaints over build quality.</span></p> <p><span>The company is now on track to achieve its target of a four-star HBF Customer satisfaction rating for 2018 following its two-star status of 2017, it said. It added that this year it would begin delivering homes from its new housing range “which has been designed to best meet our customers' needs today”. </span></p> <p><span>Early signs of trading …

Continue reading

To continue reading this article please login or register.

Login

Forgot your password?

Register for free

Quick and free registration

Register