Analyst Views: Did Bovis’ half year results meet your expectations?
CLYDE LEWIS PEEL HUNT
There were no major surprises in terms of the half-year numbers reported yesterday. They have made good progress and it is now time for the icing in terms of how margins improve from here. The key test is how fast they can deliver on those profits and margins.
RICHARD CURR PRIME MARKETS
Bovis’ results confirm the growth momentum not only remains, but has if anything accelerated…with the group now 90 per cent sold for legal completions in 2013. This means it should enter 2014 with a bulging forward order book, which for investors should mean a push for new year highs for the share price.
KEITH BOWMAN HARGREAVES LANSDOWN
For now, Bovis remains in something of a sweet spot. Despite its part in past boom and busts, the government is now back priming the pump, aided by ultra supportive Bank of England policy, whilst the valuation for Bovis itself is still seen as attractive compared to sector peers.