Family home focus drives Bovis results

A FOCUS on family homes in the south of England has left Bovis Homes on course to deliver a “significant” increase in profits.

The group expects to meet City forecasts of about £31 million in 2011, up 68 per cent on the previous year.

It benefited from an 18 per cent increase in private completions, while the firm also bought cheaper land following the downturn and focused on larger, more lucrative family homes in the south as first-time buyers struggle to get on the housing ladder.

This helped average selling prices increase 4.5 per cent to £180,100 last year.

Bovis, which does not operate in the Scottish market, added that its strong pipeline of new sites meant it was on course to deliver further “significant” improvements in profits in 2012.