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Business

Bovis Homes reports strong performance

By: Danny Boyle

Published: 16:03, 09 July 2012

Bovis Homes logo

by business editor Trevor Sturgess

Kent-based housebuilder Bovis Homes Group has reported "robust" trading in the first half of the year.

Despite economic uncertainty, more people have visited its sales outlets than in previous years.

The company, whose head office is in New Ash Green, said that home buyers are taking longer to make their purchase decision and continue to face a challenging mortgage process.

As is normal in the summer, reservation rates have slowed - with a notable effect on sales rates around the time of the Queen's diamond jubilee.

The group says it remains confident of its prospects to enhance shareholder value and improve returns.

Chief executive David Ritchie said: "The group has performed strongly, in line with expectations, in the first half of 2012 with a significant improvement in profit delivered from the ongoing successful execution of the group's growth strategy.

"The continued success in the land market during the first half of 2012, with around 2,500 new plots contracted, is positioning the group for further growth in the future."

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