Bovis has been a respected name in housebuilding and construction for more than 130 years.
Appointed Chief Executive of Bovis Homes in 2017, Greg was Chief Executive of Galliford Try Plc from 2005 to 2015, having previously been Managing Director of its House Building division from 2003. At Galliford, he transformed the group from a building contractor into a well-respected house building and construction business, which included the acquisition of Linden Homes in 2007.
Bovis Homes signed the Armed Forces Covenant, reinforcing a long history of support for the UK military.
A record c. 4,000 new homes were delivered in the year to private market customers and housing associations.
Equity placement raising £60 million to fund land acquisition as group follows growth strategy.
David Ritchie succeeded Malcolm Harris as Chief Executive. David was Group Managing Director from 2007 to 2008 and Group Finance Director from 2002 to 2006. He joined Bovis Homes in 1998 as the Group’s Financial Controller and previously worked for KMPG advising on acquisitions, disposals and flotations as well as audits.
Bovis Homes acquired Elite Homes Group a housebuilder with operations across the North West and Yorkshire, consolidating the Group’s presence in the North of England and supporting its growth plans for the region.
The Group delivered 2,700 new homes whilst maintaining sector-leading operating margins at 27%, and return on capital employed of 29%.
Bovis Homes was de-merged from P&O and floated on the London Stock Exchange, becoming Bovis Homes Group PLC. The flotation severed links with Bovis Construction and P&O retained the operations in Florida and Germany.
Appointed Chief Executive in 1996, Malcolm Harris commenced employment with Bovis Homes in 1974 and was appointed to the Bovis Homes Board in 1978. He was also a non-executive director of the NHBC.
Bovis Homes introduced new value-engineered house designs and standardised components and materials. This delivered a significant improvement in operating margins as the benefits of greater standardisation became clear.
Bovis Homes concentrated its operations in the southern half of England. Charlton Park, Cheltenham was typical of subsequent projects.
Bovis Homes started building in the US for the first time with the formation of Bovis-Brunning Inc. The US division sold its first house in 1982 with sales volumes growing to c. 250 units.
Bovis Homes reduced its housing volumes as it concentrated on rebuilding profitability.
The secondary banking crisis adversely affected Bovis Holdings’ banking subsidiary, and the Group had to be rescued by P&O.
Bovis Homes had become the second largest housebuilder in the UK, with 18,000 housing plots in its landbank and 2,659 completions.
Philip Warner was appointed Managing Director of Bovis Homes, a position he would hold for 25 years.
The New Ash Green development in Kent was bought for £2.65m after the original developer ran into difficulties. Building societies were unhappy with its untried construction techniques so Bovis Homes reverted to traditional methods and sold over 2,000 homes on this model development.
Bovis acquired Frank Sanderson’s Malcolm Sanderson Developments and the much larger RT Warren. Frank Sanderson rapidly expanded the business through acquisition, including the quoted Page Johnson and Varney holdings.
There were more than 105 Bovis System contracts underway, of which 25 were for Marks & Spencer, more than ever before.
Bovis Homes was formed as a separate business focusing on the private housing market.
The Bovis School of Building opened, taking one hundred trade apprentices and management trainees.
Bovis considerably enhanced its public reputation through a novel contractual arrangement called the ‘Bovis System’, which played a vital role in winning the firm a constant stream of new clients. It was prompted by the needs of national retailers such as Marks & Spencer, which required a new approach to contracting in order to construct shops for the inter-war consumer boom.
In the decade that followed the First World War, Bovis moved into the major league of London builders, with a succession of high-profile commercial building contracts, and completed an almost unheard-of public flotation in 1928.
C.W. Bovis & Co was acquired by Sidney Gluckstein. The Glucksteins, and their relations the Jospehs, were destined to become the driving forces behind the developments of Bovis for more than half a century.
An early example of his work still stands today in York Street, Marylebone. The Ladies’ Residential Chambers - a four-storey residential block - was completed in 1893.
Charles William Bovis decided to go into business on his own and acquired an existing company in the prosperous London Borough of Marylebone from Francis Sanders, changing its name to C.W. Bovis & Co. He was 35 years old, and had already worked in the building industry for a quarter of a century.
The Group is a member of the FTSE 250 Index and is a long-standing member of the FTSE4Good Index.