Mixed fortunes for Bovis and McStone

Sept. 6, 2018
<p><span>Bovis Homes and McCarthy &amp; Stone are the latest housebuilders to report to the city, with Bovis reporting a “strong” half year performance and controlled volume growth, and McStone reflecting on a “tough” financial year.</span></p> <p><span>During its half year to June 30 2018, Bovis’ pre-tax profit improved by <span>41%</span> to </span><span>£60.2 million against H1 2017, “ahead of expectations”. </span></p> <p><span>Its total completions rose </span><span class="zk"><span>4% to 1,580, of which 1,030 were private units (2017: 1,140). The housebuilder said it was set to deliver completions in line with its expectations for the full year.</span></span><span class="zk"></span></p> <p><span>Bovis’ private average selling price remained the same as last year at </span><span class="zk"><span>£334,700. </span></span></p> <p><span>Following its well-publicised quality problems, the company said that improving its build standards remained a key priority, with the past 18 months spent investing in “high quality” construction directors, site managers and site teams. </span></p> <p><span>It said that its HBF Customer Satisfaction score continued to trend at “well above” 80%, adding that the company’s </span><span>NHBC reportable items had decreased 66% since December 2016, and were now slightly lower than the industry average. </span></p> <p><span>“We are proud to disclose that our recent NHBC Construction Quality Review highlighted a significant step up in …

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