ANALYST VIEWS: WHAT DO YOU MAKE OF BOVIS’ RESULT?

 
Marion Dakers
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.