Housebuilder expects increase in sales of around 30% in 2014
Housebuilder Bovis Homes has said it expects its average selling price in 2014 to be 10% up on 2013 helping to drive a 鈥渟trong increase鈥� in profit.
In a statement to investors this morning Bovis Homes said its operating margin for 2014 was expected to be 17%, up from 15% in 2013.
It added that the volume of sales in 2014 was on course to be around 30% up on last year.
Bovis Homes said there had been a 鈥渕ore normal seasonal pattern in trading activity鈥� during 2014 with a weaker summer sales period followed by stronger autumn sales.
It said: 鈥淕iven the reported lower levels of activity in the wider housing market, the group鈥檚 sales rates have been robust albeit lower in the second half of the year compared to the strong equivalent period in 2013 which benefited from the introduction of the government鈥檚 Help to Buy scheme.鈥�
David Ritchie, chief executive of Bovis Homes, said: 鈥淲e are anticipating a strong increase in profit for 2014 and at the same time expecting to deliver a stronger forward order book for the start of 2015.鈥�
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