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Bovis back in profit as sales increase

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Bovis Homes has reported a pre-tax profit of £4.8 million for 2009 against a £78.7 million loss in 2008.

The firm said that the number of people reserving homes last year was up 82% at 1,801 and that the recovery appeared to be continuing in 2010 with 969 homes held for sale on March 5 2010 against 772 at the same time last year. Of these, 701 are private sales against 515 last year.

Bovis Homes ceo David Ritchie said that the Group had delivered on its objectives for 2009 in terms of achieving profit, increasing reservations and reducing overhead. "The group has recommenced investment in land and is pleased with the progress made to date, with four consented sites acquired in the last quarter of 2009 and terms agreed in principle at the end of the year on a further 15 sites."

Source: Housebuilder

See Also:   (5994), (7), (84)

Date Published: 08 March 2010

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