max temp: 8°C

min temp: 7°C

ESTD 1874 Search

UK: Bovis Homes raises 2012 profit forecast and sales and margins improve

09:16 18 January 2013

Bovis said today it is now on track to beat City profits forecasts for 2012

Bovis said today it is now on track to beat City profits forecasts for 2012

FURTHER signs of a return to health in the housing market emerged today as Bovis Homes reported improved sales and lifted its profit forecast.


Bovis said it had seen a 15% jump in completions last year, with its strategy of building family homes in the affluent south helping to push its average selling price up 5% to £170,700.

The added that it now expected pre-tax profits for 2012 to beat City predictions of £51.3million, with the development of land acquired during the housing downturn having helped to improve operating margins to 13.5%, from 10% in 2011.

Bovis’s statement follows upbeat trading updates from rivals including Persimmon and Taylor Wimpey, with the sector having benefited from initiatives such as FirstBuy, which sees the Government and housebuilders stump up part of the deposit.

But a spokesman for Bovis, whose current developments include sites at Red Lodge, near Mildenhall, Stowmarket and Colchester, said that while the Government schemes were welcome, its performance was not attributable to them.

The group said it invested in about 3,500 plots of land across 24 sites in 2012, and sold three plots of land during 2012.



The Leading Lives team receive their tropy at the Social Enterprise UK Awards in London.

Ipswich-based Leading Lives has been named Health and Social Care Social Enterprise of the Year at the Social Enterprise UK Awards.

The Hot Off The Press premises inTacket Stret, Ipswich, which the company has vacated after 25 years.

A printing company which has operated from the centre of Ipswich for 25 years has relocated – to a purpose-built log cabin in the owner’s garden.

Elaine and Nigel Bowen of Vanguard Communications.

Two businesses which receive support from Suffolk enterprise agency Menta have received Small Business Sunday awards from entrepreneur and former BBC Dragons’ Den star Theo Paphitis.

Wayne Seddon from The Bridge House in London receives his Adnams Pub of the Year award from chief operating officer Karen Hester.

Southwold-based Adnams has named The Bridge House, near London’s Tower Bridge, as its Pub of the Year.

Georgi Rollings, left, and Emma Lawrence of Starfish Accounting.

An Ipswich based provider of online company secretarial software has reached the landmark milestone of having 10,000 users.

Robert Hughes, managing director of Hughes Electrical, and Andy Yallop, store manager, at the company's new branch in Bury St Edmunds.

Hughes Electrical has opened the doors of its new store in Bury St Edmunds following a £200,000 investment which has also created six new jobs, doubling the size of its workforce in the town.

A file picture of the Sanofi factory in Haverhill.

More than 50 jobs are to be axed at the Haverhill site of pharmaceutical group Sanofi.

Barclays has been fined £72m by the Financial Conduct Authority.
Photo: Jonathan Brady/PA Wire

Banking giant Barclays has been fined £72million by the City watchdog for failing to handle potential financial crime risks relating to a £1.88billion transaction for ultra high-net-worth clients.

Ipswich council leader David Ellesmere at the former sugar beet factory site off Sproughton Road.

A new Enterprize Zone involving 10 development sites across East Anglia, with the potential to create 18,500 jobs, was announced by Chancellor George Osborne today.

Natalie Moloney, of Woodbridge events firm Pink Lemonade Productions.

An entrepreneur is up for a fifth business award since her event planning company launched last year.

Most read

Most commented

Topic pages

Local business directory

Our trusted business finder

Property search

e.g. Oxford or NW3
Powered by Zoopla

Digital Edition

Read the East Anglian Daily Times e-edition today E-edition

Great British Life

Great British Life
MyDate24 MyPhotos24