The boom in house prices has meant good news for New Ash Green-based Bovis Homes Group.

Profits before tax for the half-year ended June 30 were up 9% at £53.8m, compared to last year’s figure of £49.4m.

Revenue for the period was also up 9% at £350.7m against last year’s figure of £322.1m, according to the group’s results published today.

The group achieved a record number of completions during the six months, 1,525 homes against last year’s 1,487.

The rosy profit margin was helped by a 10% increase in average house sale prices, £264,200 against 2014’s £239,500.

The group is also in a strong position for future development, with more than 19,000 plots in its landbank. More than 2,600 plots on 15 sites had been added to the landbank during the half-year.

Up to August 15, 3,768 new homes had been built, keeping the group on track to achieve its expected construction volumes.

David Ritchie, the group’s chief executive, said: "We have delivered a strong first half performance in 2015 with a record number of legal completions and a further improvement in return on capital employed.

"Our long term land investment in high quality locations, including delivery from strategic land, is providing a consented land bank which supports growth in active sales outlets leading to increased volumes.”

Mr Ritchie added that “significant land opportunities” continued to be available at higher returns which, he said, should underpin future growth in shareholder returns.

The addition of around 40 sites a year would enable the group to build between 5,000-6,000 new homes each year.

Mr Ritchie said:” For 2015, we are on track to deliver our expected volume of new homes and remain confident in our outlook for the year as a whole.

"The combination of strong revenue growth and higher profit margins with improved capital efficiency will drive higher capital turn and return on capital employed.

"With this anticipated improvement in returns, the board intends to increase the full year dividend to 40 pence per share.”