Housebuilder reports bumper results for 2014 calendar year
Bovis Homes has reported bumper results for the 2014 calendar year, with revenue and pre-tax profit both up strongly.
The housebuilder reported revenue up 46% to 拢809.4m, up from 拢556m, while pre-tax profit jumped 69% to 拢133.5m, up from 拢78.8m.
The firm also achieved record completions over the year, up 29% to 3,635, up from from 2,813, while the average sales price increased to 拢216,600, up from 拢195,100.
Bovis said it was on course to double annual volumes to between 5,000 and 6,000 new homes 鈥渙ver the next few years鈥�.
Trading for the first two months of 2015, after the firm鈥檚 year-end, had been 鈥渞obust鈥�, with 2,336 legal completions, up from 1,875 the previous year.
The firm acknowledged the forthcoming general election 鈥渂rings a period of uncertainty鈥� and sales activity was likely to moderate 鈥渇or a few weeks before鈥�, but the firm expects a 鈥渞ebound鈥� after.
David Ritchie, chief executive of Bovis Homes, said: 鈥淚 am delighted to report excellent results for 2014. With a record number of homes delivered and stronger sales prices and profit margins, profit before tax has increased by 69%.鈥�
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