More on KentOnline
Home Kent Business County news Article
A housebuilder has seen strong trading and financial growth this year, as it holds its annual general meeting today.
Bovis Homes, based in New Ash Green, near Brands Hatch, is hoping for a repeat of its performance in 2014, after having a “strong” year.
The group has made sold progress in the year to date, with the total forward sales position for 2015 delivery, standing at 3,049 homes at May 8, 8% ahead of the prior year, along with housing production being 9% ahead of 2014.
The numbers stand the group in good stead as the UK economy remains positive, with good quality home buyers able to access cost-effective mortgage finance.
In February, the constructor revealed profits reached £133.5 million last year, up 69% on the previous 12 months.
A record 3,635 completions meant revenues reached £809.4 million, up 46%, helped by an average sale price of £216,600, up 11%.
Chief executive David Ritchie said: “During the year to date, we have traded well in a positive UK housing market building a strong forward sales position on an increased number of sales outlets.
"We are on track to deliver our expected growth for 2015 and a further increase in shareholder returns.”
He added: “Strong progress is again being achieved in growing the consented land bank, including an enhanced level of strategic land conversion.
"This will support the group to continue to deliver strong returns for shareholders in future years.”