Bovis sees 26% surge in new home completions

Jan. 16, 2014
<p>Bovis completed 2,813 homes in 2013, 2,330 of which were private - 26% more than in 2012.</p> <p>In a trading statement issued today (January 16) the firm says that it expects to announce a significant increase in profit for the year when it reveals its results next month. Average sales price rose 14% to £195,100 due to an "improved mix of larger homes and a greater proportion of higher value southern sites".</p> <p>Operating profit margin is set to reach 15%, up from 13.3%, due to the increase in contribution from recent completions and improved overhead efficiency.</p> <p>Bovis ceo David Ritchie said the firm's forward order was in its best position for many years. "With further increases in active sales outlets supported by ongoing assertive land buying, the group is confident of its future prospects and ability to deliver further significant improvement in returns," he said.</p>

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