Operating margin grows to 7% for first six months of 2011
Housebuilder Bovis Homes expects to report improving margins when its half year results are announced at the end of August.
In what it described as stable market conditions, the group completed 801 homes compared to 803 homes during the same period in 2010.
Bovis expects to deliver an operating margin for the half year of at least 7% – up from 4.2% in the first half of last year.
The housebuilder also intends to launch 33 new sales outlets during 2011, of which 19 have already opened. The average number of sales outlets for the year will be 73, up slightly from 66 in 2010.
Commenting on the outlook, chief cxecutive David Ritchie said:
“On the basis of the current stable market conditions continuing, the group remains confident that it can deliver on its expectations for 2011 and will continue to invest to increase output capacity to deliver higher returns to shareholders.”