Groups says that it has already secured bulk of planned land sales for year
Bovis Homes is set to report interim pre-tax profit in line with group expectations, the company said in a trading update today.
In a statement to the stock exchange, Bovis Homes said that despite rising interest rates, it had generated “good pre-tax profit growth” during the six months to 30 June 2007.
Legal completions for the period dropped slightly to 1,256 homes from 1,262 in the same period in 2006. However, the average sales price per square foot was up by 4%.
The group said it has already secured the bulk of its planned land sales for the year with £20m of sales, as compared to £10m in the corresponding period last year.
The company said that the extent of the planned increase in volume for 2007 over that achieved in 2006 will depend on consumer confidence over the summer and autumn selling period.