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Mon January 20 2020

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Bovis hails 2019 as another record year

4 days A trading update from newly formed Vistry Group for its Bovis Homes division says its 2019 profits will be a new high for the company and higher than had previously been expected.

Vistry Group was created earlier this month when Bovis Homes Group acquired Galliford Try Partnerships and Linden Homes for £1.1bn, as the new group company name.

Group profits for 2019 would be ahead of expectations, surpassing 2018 (when pre-tax profit was £168.1m), despite a £15m exceptional cost relating to the acquisition.

Bovis Homes completed a total of 3,867 (2018: 3,759) new homes in 2019, an increase of 3% on 2018. 

Chief executive Greg Fitzgerald said: "The group has made further operational progress over the past 12 months and for 2019 expects to deliver another year of record profit.  Building high quality new homes for our customers has been, and remains our priority, and I am confident we will finish the year as an HBF 5-star housebuilder.

"We completed the transformational acquisition of the Linden Homes and the renamed Vistry Partnerships at the start of this year; integration is well under way and we are fully focused on delivering the clear and significant benefits from this exciting combination as quickly as possible."

 

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