Construction News

Mon April 19 2021

Related Information

Record start for Bovis Homes

6 Jul 15 When Bovis Homes reports its interim financial results next month for the first half of the year, the numbers look set to be strong.

Bovis Homes Group built a new company record number of new homes in the first six months of 2015, with 1,525 legal completions (2014 H1: 1,487).

In a trading update for the six month period ended 30 June 2015 ahead of reporting its half year results next month, Bovis Homes group said that it had also increased average sale prices (including social housing) by 6% to £222,000 (H1 2014: £210,000).

Chief executive David Ritchie said: "The group has delivered a record number of first half legal completions, made possible by the high quality land investments made during the last few years. We continue to trade well in a positive UK housing market delivering a strong forward sales and build position on an increased number of sales outlets.  As a result we are on track to deliver our expected growth for 2015 and a further increase in return on capital employed supported by robust profit margins and improved capital turn.

“Future growth in shareholder returns is being underpinned by further disciplined investment in new consented and strategic land."

In the first half of 2015, Bovis added 2,687 consented plots on 15 sites to the land bank and has approved the purchase of two further consented sites contributing 257 plots which are expected to be added in early July. 

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view more construction news »