Mike Smuts November 18, 2018 Uncategorized no responses

Bovis Homes has said that it remains on track for a “record year” of profits for 2018.

The housebuilder issued an update and said that it was fully sold for its targeted FY 2018 completions and anticipated delivering “another controlled and disciplined period end” in December.

Bovis did say that the uncertainty of Brexit “has impacted discretionary buyers”. The housebuilder has increased its use of part exchange which, in its second half stands at around 15% of reservations. But it added: “We continue to be disciplined in our use of part exchange with completions in the period operating in line with our policies and procedures.”

Greg Fitzgerald, Bovis’ group ceo, said: “The group’s improved operating performance including the transformation of our customer service and step change in build processes and quality is driving a significant improvement in our financial performance. We are fully sold for this year and continue to target a record year of profits for 2018.”