CHRIS MILLINGTON | NUMIS SECURITIES
I believe the return to profitability is sustainable, unless housing markets drop considerably. Despite Bovis not having as much short term work planned as competitors, it is in a strong position for the future.
MARK HUGHES | PANMURE GORDON
From a headline perspective the results are a little bit behind expectations, but underlying performance remains strong. The firm has a strong strategic land bank, and land “oven-ready”?for construction is plentiful.
JON BELL | SHORE CAPITAL
While we believe that Bovis has relative geographic weakness compared to its peers, the company’s strong balance sheet – net cash at the end of June was £79m – should provide some protection in a challenging market.