Bovis Homes’ 45 per cent reservations increase boosted by Help to Buy
Bovis Homes has reported an impressive 45 per cent like-for-like increase in reservations, at 2,390 in the 44 weeks to 1 November 2012. The strong growth was, said the housebuilding company, boosted by access to "higher loan to value mortgages and Government support in the form of the Help to Buy scheme contributing to an already more confident housing market." (Release)
The company said it expected 2013 operating margins to be around 15 per cent, ahead of the 13.4 per cent achieved in 2012.
Reservations per site per week have risen 30 per cent from the comparable period 2012, with the average number of active sales outlets during the period up 11 per cent.
David Ritchie, chief executive of Bovis Homes, commented:
Our strong trading performance has continued through the third quarter and we are confident of achieving our targeted result for the year as whole. Our forward order book is in its best position for many years. With further increases in active sales outlets, supported by ongoing assertive land buying, the Group is confident of its future prospects and ability to deliver significantly improved returns.
