Housebuilder Bovis Homes has seen a rise in profit margins but has warned of 鈥渦ncertainty concerning the near term direction of house prices鈥�.

In an interim management statement published on Monday the company said it has maintained a solid sales rate since 1 July. It said prices were above internal target levels and expects the average sales price in 2010 to be about 拢160,000, 3% ahead of last year鈥檚 average.

As a result, it predicted that its 2010 operating margin will be above last year鈥檚 level of 6.2%.

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