Bovis Homes Group reports record profits

February 23, 2016

Bovis Homes Group PLC yesterday announced its final results for the financial year ended 31 December 2015, in it they stated that – Significant revenue growth driven by record legal completions and a strong increase in average sales price.

Operational highlights for 2015 were – Land investment aligned with growth strategy –  Achieved planned growth in sites owned at the year end – Improved forward sales position.

Commenting, David Ritchie, the Chief Executive of Bovis Homes Group PLC said: “We have delivered record profit driven by another year of record volume.  We have invested well during 2015 in new consented land and achieved a strong level of conversion from our strategic land bank.  While it has been a time of operational challenge with fast moving market conditions, we are delivering our strategic growth plan and have evolved our management and business structure at the start of 2016 to support further growth.  Assuming market conditions remain stable we are confident in our ability to improve return on capital employed further in 2016.

“In the current housing market, our plan envisages the business delivering sustainable growth over the next few years to achieve annual volumes of between 5,000 and 6,000 new homes”. 

To read the final results report in full visit Bovis Homes Group website, Click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Rightmove logo
Breaking News

More affordable locations grew most in price in 2025

New analysis of the 2025 market highlights that lower-priced locations grew the most in asking prices during 2025 as affordability continued to drive buyer behaviour Across the top 50 local areas where property asking prices grew the most last year, only seven are priced above the current national average of £368,031 Hawick in Roxburghshire in…
Read More →
Breaking News

UK Gov announcement capping ground rents at £250

The Government has announced that it will cap ground rents at £250 per year in England and Wales, as part of changes to the leasehold system. The measures announced by the Prime Minister aim to give homeowners greater control over their properties and include new leasehold flats to be banned and existing leaseholders getting the…
Read More →
Breaking News

Landlords behind the curve on tax changes, and tenants could pay the price

Millions of renters are facing another cost-of-living hit, thanks to a botched tax overhaul and landlords who admit they don’t know what they’re doing. A new survey suggests most landlords are woefully unprepared for Making Tax Digital (MTD), a government tax overhaul due to begin this April. Just 1 in 8 landlords say they understand…
Read More →
Breaking News

Rental Inflation Grinds to a Halt as Rent Controls Arrive in Scotland

Rental growth falls close to zero at just 0.2% Rents fall in real terms as new Act gives rise to controls Caution advised for future council market analyses   National rental growth falls to near zero as new rent control powers land in Scotland’s Private Rented Sector. The latest Citylets report shows the rate of…
Read More →
Estate Agent Talk

Buying schemes remain in high demand but short supply across England

The latest research from Yopa, the full-service estate agents, reveals that whilst buying schemes designed to to help homebuyers onto the ladder are in high demand, the stock availability of properties with such offerings is low. Yopa has analysed the current market for for-sale housing stock in England, looking at what proportion of homes currently…
Read More →
Breaking News

Draft Commonhold and Leasehold Reform Bill

ALEP (the Association of Leasehold Enfranchisement Practitioners) has welcomed the publication of the Draft Commonhold and Leasehold Reform Bill, describing it as an important step in the government’s long stated aim to modernise tenure structures in England and Wales. The draft Bill, published as a policy paper, sets out to reinvigorate and reform the commonhold…
Read More →