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

Estate Agent Talk

Property sitting on the market? Experts reveal top tips to unlocking property sales

Many homeowners understand the frustration of properties sitting on the market for extended periods of time with no sale on the horizon. Leading estate agency group, Beresfords, has released advice to help sellers take control of their sales journey. With the average time from initial marketing through to a successfully agreed offer now standing at…
Read More →
LIVING BY THE SEASIDE 2022
Breaking News

Demand for Coastal Living Remains Remarkably Resilient

Coastal house prices fall by as much as 38%, but seaside hotspots still command premiums of up to 76%   The latest research by Yopa has revealed that house prices across some of the nation’s most popular seaside hotspots have fallen by as much as -38% over the last year. However, many continue to command…
Read More →
Rightmove logo
Breaking News

Buyer demand bounces back after May heatwave

New real-time analysis from the UK’s largest property platform Rightmove reveals that buyer demand has bounced back after a temporary dip due to the May heatwave during the school holidays Starting on May 22nd, buyer demand dropped by 8% over the course of the heatwave week, as potential buyers held off from booking viewings to…
Read More →
Breaking News

Breaking Property News 11/6/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Leasing decisioning platform set to scale with new injection of investment Findigs, the AI-native leasing decisioning platform that helps residential operators across the U.S. improve revenue and grow their bottom line, announced that it closed a $32 million Series C funding round led by…
Read More →
Breaking News

Cost of void periods climbs by as much as 53% for landlords

Landlords face growing pressure on profits as the cost of void periods climbs by as much as 53%.   The latest research by property management specialist, Rushbrook & Rathbone, has found that the average cost to landlords as a result of void periods between tenancies has climbed by as much as 52.9% across some areas…
Read More →
Breaking News

Lack of Supply Keeps Upward Pressure on Rents

More ‘affordable’ areas see rents rise two times faster than the national average    Rents are rising 5% on average in more affordable areas where rents are below £750pcm – over twice the national average of 2.1% Regionally, Carlisle (+9.1%), Kilmarnock (+9%) and Halifax (+6.5%) are among the fastest-rising markets where rents are rising quickly…
Read More →