Bovis Homes ramps up house building by 80pc in 2014

Harriet Green
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No doubt some pleasing news for the powers that be: Bovis Homes says it built 80 per cent more homes in the first four months of this year, aware of the “importance of its positive contribution to the government's ambition to increase new homes production.”

The surging demand for more homes has significantly buoyed performance for the UK house builder, who says it saw a 78 per cent leap in cumulative private reservations over the year, to 2,096.

Assuming stable market conditions, the group’s confident of achieving a strong increase in return on capital employed, to at least 15 per cent in 2014.

Bovis says it aims to deliver between 3,650 and 3,850 legal completions this year, with a “clear focus on controlling the capital employed of the group”.

From its trading statement this morning:

The outlook for the Group continues to be very positive as a result of the land investment made to date which will enable the delivery of strong shareholder returns in the future.

Bovis shares are up 0.7 per cent this morning.