VTY Vistry Group Plc

    


Bovis Homes Group PLC



                              Bovis Homes Group PLC

                                 Trading Update

                                   9 July 2007

Bovis Homes Group PLC is today issuing a trading update ahead of reporting its
interim results for the six months ended 30 June 2007.

Against a backdrop of increasing interest rates over the first half of 2007, the
Group has generated good pre-tax profit growth in line with the Group's internal
expectations.

The Group legally completed 1,256 homes during the first half of 2007, as
compared to 1,262 legal completions in the same period in 2006. The average
sales price achieved was in line with the previous half year at around �189,000,
and the average sales price per square foot was up by some 4%, with an
offsetting reduction in the average size of homes legally completed. Given the
current strength of the land market, the Group has already secured the bulk of
its planned land sales for the year with �20m of sales, as compared to �10m in
the corresponding period last year. The Group anticipates that its operating
margin will be broadly in line with that produced in the first half of 2006,
after adjusting out the one-off pension credit taken in the first half of 2006.

The Group has enjoyed another period of positive cash generation, and exited the
first six months of the year with net cash in hand, following a continuation of
the Group's relative caution in investing in consented land. The consented land
bank now stands at c11,600 plots as at 30 June 2007, as compared to 12,395 plots
at 31 December 2006. As a consequence of this favourable cash flow profile,
financing costs in the first half of 2007 were minimal.

Looking ahead, the Group has secured 2,282 cumulative reservations for the year
as at 30 June 2007, as compared to 2,273 reservations at the same point last
year. These figures reflect a recent slowdown in both visitor rates and in
reservation rates. Whilst the Group is in a good position to expand and deliver
shareholder value, the extent of the planned increase in volume for 2007 over
that achieved in 2006 will depend on consumer confidence over the key summer and
autumn selling period.

A further update on the outlook for 2007 will be provided with the interim
results, which will be announced on 10 September 2007.

Enquiries:       Malcolm Harris, Chief Executive          Emily Bruning
                 Bovis Homes Group Plc                    Shared Value Limited
                 Tel: 01474 876200                        Tel: 0207 321 5027

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