Bovis sees spike in annual revenue

Bovis, the FTSE 250 construction, project management, and consulting provider, said it remains on track to deliver a strong increase in revenue in 2012.

Bovis, the FTSE 250 construction, project management, and consulting provider, said it remains on track to deliver a strong increase in revenue in 2012.

The group saw a significant increase in private average sales prices due to an improving mix and expects to legally complete around 2,350 homes during 2012 to date.

Average sales price achieved in the year to date for private reservations expected to legally complete in 2012 is around £190,000 compared ith £180,100 achieved on private legal completions in 2011.

Gross profit margin for 2012 is expected to increase to roughly 22%, reflecting the increasing proportion of homes sold on post-downturn sites, Bovis explained.

The significant increase in operating margin combined with improved capital turn will provide an increase in ROCE to nearly 7.5% for 2012 from 5% in 2011.

"Subject to stable market conditions continuing, the group is confident that it can deliver further growth in revenue with strong increases in profit margins. This profit growth combined with a stable capital base will deliver further strong improvements in ROCE in 2013 and beyond," the group said in a statement.

CJ

Recommended

Britain’s ten most-hated shares – w/e 9 August
Stocks and shares

Britain’s ten most-hated shares – w/e 9 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
10 Aug 2022
Aviva: One for income investors to tuck away
Share tips

Aviva: One for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
10 Aug 2022
Director dealings w/e 5 August: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 5 August: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
9 Aug 2022
Britain’s most-bought shares w/e 5 August
Stocks and shares

Britain’s most-bought shares w/e 5 August

A look at Britain’s most-bought shares as of 5 August, providing an insight into how investors are thinking and where opportunities may lie.
9 Aug 2022

Most Popular

Are UK house prices finally heading for a crash?
House prices

Are UK house prices finally heading for a crash?

The latest house price figures show a fall of 0.1% in July. With interest rates rising, inflation hitting double figures and a recession on the cards,…
5 Aug 2022
Brace yourself for the return of rationing
Economy

Brace yourself for the return of rationing

Russia is turning off the cheap energy. That is already leading to belt-tightening, says Matthew Lynn. Who will suffer most, and which sectors will th…
5 Aug 2022
Fear of missing out – what should investors do now?
Investment strategy

Fear of missing out – what should investors do now?

Markets have rallied from their mid-June lows. But if you missed out, as most investors did, what should you do now? Max King explains.
8 Aug 2022