Continued excellent operational progress delivers record profits
Bovis Homes Group PLC (the ‘Group’) is today issuing its half year results for the six months ended 30 June 2019.
- Record profits with profit before tax increasing by 20% to £72.4m
- Step up in profitability including 140 basis points improvement in operating margin to 16%
- 15% increase in private sales rate to 0.6 per site per week despite an uncertain market backdrop
- Further strong improvement in customer satisfaction with Group trending at 5-star HBF customer satisfaction score for the year to date
- High quality land acquisitions in the year to date totalling 2,007 plots across 12 sites
- Further strengthened balance sheet with increase in net cash as at 30 June 2019 to £102.4m
- Interim dividend up 8% to 20.5p per share reflecting confidence in the business
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