LONDON (dpa-AFX) - British homebuilder Bovis Homes Group Plc. (BVS.L) reported Tuesday improved performance in the first half with higher completions and selling price. Looking ahead, the company said IT continues to make significant progress and expects to deliver an improved operational and financial performance in fiscal 2019.
In its trading update, the company reported a 15% increase in average private sales rate per site per week in the period to 0.6 from last year's 0.52.
The company delivered a total of 1,647 completions in the half year, a 4% increase from 1,580 in the prior year. Of this, 1,031 were private units and 616 affordable.
Private average selling price in the period increased to about 342,000 pounds from prior year's 334,700 pounds. Total average selling price increased about 3% to 270,000 pounds.
The company opened 10 new developments in the half and operated from an average of 88 active sites.
Bovis Homes is slated to release its half-year results on September 10.
The company said, 'Market fundamentals remain stable and despite the ongoing uncertainty surrounding Brexit, we continue to see good demand for our new homes across all our operating regions. We start the second half of the year with a strong forward sales position and are confident of delivering completions in line with our expectations for the year.'
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