LONDON (dpa-AFX) - Bovis Homes Group Plc. (BVS.L) said that total sales for the year are in line with its expectations and pricing is strong. The average private sales rate per site per week for the year to date was up 6% to 0.52. The rate excludes the sale of 275 units to Heylo Housing Association to be completed in 2018.
The company has opened 12 new developments in the year and is operating from an average of 84 active sites. As planned, it has 11 new sites launching in the coming months, and expect our average active sites number to increase in the second half.
The company said,' We are delighted to have launched our new housing range for both private and affordable homes, The Phoenix Collection, in late April. This market leading range will deliver exciting, high quality new homes as well as drive further price optimisation and a reduction in our costs. We have already identified more than 50% of the private units in our owned land bank to be replanned, and expect our first completions from the new range from Spring 2019.'
Greg Fitzgerald, Chief Executive said,'Market conditions remain robust and we are on track to deliver another controlled period end. Our HBF customer satisfaction score continues to trend well above 80% and with our exciting new housing range launched in April, we are well placed to meet our customers' needs and increase output, whilst optimising price and driving profitability.'
Subject to shareholder approval at today's AGM a final dividend of 32.5 pence per share (2016: 30.0 pence per share) will be paid on 25 May 2018, giving a total dividend for 2017 of 47.5 pence per share (2016: 45.0 pence per share).
The company said Market fundamentals remain strong. It continues to see good levels of demand for new homes across all operating regions with underlying pricing remaining firm.
Copyright RTT News/dpa-AFX