Bovis Homes Group reports record profits
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