Bovis Homes reports strong trading since start of year
Bovis Homes has said trading since the start of the year has been strong, having achieved a 26 per cent rise private net reservations for the period.
Bovis Homes has said trading since the start of the year has been strong, having achieved a 26 per cent rise private net reservations for the period.
The group said this was driven by an 11% increase in the average number of active sales outlets to 91 (2012: 82), and a 14% improvement in the average private sales rate to 0.57 net reservations per site per week (2012: 0.50).
It also said the number of visitors to its sites has increased by 29% in the year-to-date compared to the same period last year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sale prices in the period were "modestly above management's expectations, the group said, adding that it expects the average sales price in the half year results to be materially ahead of the prior year comparable period due to improved mix.
The housing profit margin is also expected to increase compared to the first half of 2012.
David Ritchie, the Chief Executive, said: "The ongoing success of the group's growth strategy has driven strong trading in early 2013. Homebuyer sentiment has been improving and, with the recently announced government initiatives, sales rates have increased ahead of management's expectations.
"The increased number of active sales outlets in excellent locations, delivered from the group's assertive land buying over the last few years, provides a great opportunity to take advantage of the improving market backdrop and further strengthen shareholder returns."
At May 10th, thegroup had net debt of £110m, which is expected to be materially lower by June 30th.
The share price rose 1.86% to 767p by 08:50 Thursday.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Single people face £2k retirement shortfall. Can you fill the gap?
Being single may have plenty of benefits but it could leave you with a retirement shortfall. But even as a single person, there are things you can do to plug the gap before you stop working
By Marc Shoffman Published
-
First-time buyer market rebounds as interest rates ease and mortgage affordability improves
The average first-time buyer is now 33, and will spend an average of £311,034 on their first property
By Daniel Hilton Published