Bovis on track for “record profits”

Nov. 15, 2018
<p><span>Bovis Homes remains on track for a “record year” of profits for 2018, it said today, while acknowledging the effect of Brexit uncertainty on some buyers. </span></p><p><span>Issuing an update on the period from July 1 to November 11 2018, the housebuilder said that it was fully sold for its targeted FY 2018 completions and anticipated delivering “another controlled and disciplined period end” in December.</span></p><p><span>Bovis said it was continuing to deliver high levels of customer satisfaction, with its HBF Customer Satisfaction score for the year from October 1 2017 trending at “well above” 80%. It added it was confident it would achieve its target of a four-star customer satisfaction rating for this year.</span></p><p><span>Its sales rate per outlet per week for the year to date is 0.51, matching the same period in 2017, with pricing in line with Bovis’ expectations.</span></p><p><span>While it has maintained a stable rate of sale, Bovis said that the uncertainty of Brexit “has impacted discretionary buyers”. The housebuilder has increased its use of part exchange which, in its second half stands at around 15% of reservations. But it added: “We continue to be disciplined in our use of part exchange with completions in the period operating in line with …

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