Author Topic: Bovis Homes Record Profits Up 20% On 2014  (Read 1893 times)

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Philofacts

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Bovis Homes Record Profits Up 20% On 2014
« on: February 22, 2016, 10:57:28 am »
Bovis released their full year results for the year to 312 December 2015 and it is great news............for shareholders anyway.

But not for those long suffering buyers who bought a Bovis home, where not one of their 97 site managers won an NHBC Quality Award last year. Indeed the housebuilder is one of just tow major house builders to be rated just three stars by their own customers!  (the other is Persimmon who report tomorrow) 

But never mind the quality feel the profit!

Bovis increased dividends paid to its shareholders by 14%, with a pay-out for the year of 40p a share.
 
The number of new homes Bovis built in the year to 31 December 2015 is up just 8% to 3,934.
Just 249 more new homes than in 2014. 
However pre tax profit is up 20% on 2014 at £160.1m on a turnover (up 17%) of £946.5million.

Hardly surprising given the current climate of state assistance that has enabled Bovis to increase the average selling price to £231,600 up 7% on 2014 and its profits by 20%!

Yet despite the "good news" one buyer discovered the buttress piers falling down in their garage because no wall ties have been used. Thankfully this time, no child was killed.
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