Bovis sees rise in profit, sales and margin

Jan. 16, 2012
<p>Bovis expects to see pre-tax profit for 2011 rise to £31 million as the firm sees an increase in margin, sales and completions.</p> <p>Despite a "challenging market", Bovis says it is well positioned to improve returns in 2012 and beyond.</p> <p>The Group legally completed 2,045 homes in 2011 of which 1,624 were private, 18% up on last year when the firm completed 1,377 private homes (excluding a jv deal).</p> <p>Sales price increased by 4.5% to £180,100 due to an improved mix in homes as the Group increases the contribution from family homes in the south east. The firm operated from 73 sales outlets on average (66 in 2010) and is looking to grow this to 85 in 2012.</p> <p>Bovis ceo David Ritchie said: "We are delighted with the improved returns delivered in 2011. The Group is well placed for 2012 with increasing active sales outlets and stronger profit margins (circa 10% in 2011). Based on current market conditions continuing, the Group can deliver significantly increased profit in 2012 and beyond."</p> <p> </p>

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