Home Property Bovis Homes posts record profits of £168m

Bovis Homes posts record profits of £168m

by LLP Reporter
28th Feb 19 12:23 pm

Housebuilder Bovis Homes has posted a record performance, pre-tax profits rose to £168.1m by 47.4% during 2018.

The housebuilder’s revenue climbed £1.06bn by 3.2% as Bovis Homes had 3,759 completions.

Chief executive Greg Fitzgerald said: “The group has made substantial progress operationally over the past 18 months, delivering record profits and a step change in our operating margin.

“We have transformed the quality of our product and customer service and are delighted this is reflected in our 4-star housebuilder status for 2018.”

Analysts at Numis said, “Bovis’ results highlight that the self-help actions introduced by the new management have led to strong returns which have been delivered in a controlled manner.”

Bovis Homes are on track to achieve 4,000 completions per annum by 2020.

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