Bovis Lend Lease has posted operating profit of £14.9m for the six months to December last year.
Its Australian parent company Lend Lease posted operating profit after tax of £39m for the half year on turnover of £2bn. The share price of the parent group fell sharply after the news because the results were well below market expectations.

Lend Lease, which operates around the world, bought Bovis from P&O in October 1999.