23rd May 2018 10:54
LONDON (Alliance News) - FTSE 250-listed housebuilder company Bovis Homes Group PLC said on Wednesday that total sales for the year-to-date are in line with expectations as market conditions remain robust.
Average private sales per site per week for the year to date from January 1 were up 6% to 0.52 from 0.49 the year before. 12 new developments in the year have been opened and the group is currently operating from an average of 84 active sites.
Another 11 new sites are launching in the coming months, and the number of average active sites are expected to increase in the second half.
Bovis Homes said it is making good progress with its four margin initiatives covering price optimisation, specification review, cost reduction and the launch of its new housing range.
The new housing range, The Phoenix Collection was launched in late April, and is expected to deliver new homes while reducing costs. More than 50% of private units in Bovis Homes' land bank has been identified to be replanned, with the first completions from the new range expected in Spring 2019.
"Market conditions remain robust and we are on track to deliver another controlled period end. Our HBF customer satisfaction score continues to trend well above 80% and with our exciting new housing range launched in April, we are well placed to meet our customers' needs and increase output, whilst optimising price and driving profitability," said Chief Executive Greg Fitzgerald.
Shares in Bovis Homes Group were down 0.8% at 1,280.50 pence on Wednesday.
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