Bovis Homes Group PLC AGM Statement (7069X)
10 Maggio 2016 - 8:00AM
UK Regulatory
TIDMBVS
RNS Number : 7069X
Bovis Homes Group PLC
10 May 2016
Bovis Homes Group PLC
AGM Statement
Bovis Homes Group PLC is holding its Annual General Meeting at
12.30pm today in Tunbridge Wells where the following update will be
given regarding current trading and the outlook for the financial
year. This statement covers the period from 1 January 2016 to date
and supplements the update given with the 2015 final results on 22
February 2016.
David Ritchie, Chief Executive, commented:
"We have been trading well with positive market conditions
supporting activity levels and we are on track to deliver our
planned growth for 2016. We continue to drive improvements in our
operations across the enlarged business with strong investment in
our people and focus on delivering value across the Group."
Current trading
Housing market conditions remain positive with strong demand
from home buyers who are benefitting from good access to mortgage
finance. Our sales prices continue to show levels of sustainable
growth driven by our improving mix of homes. Weekly sales rates
have improved in recent weeks and in the year to date we have
achieved 0.65 net private reservations per site, which is now in
line with last year. We have launched 17 new sites for sale with
many sites acquired in 2015 now launched and selling well. A number
of sites have sold out earlier than expected and, as a result our
total number of sales outlets has remained broadly constant over
the year to date. The forthcoming EU referendum has had no
discernible impact on our business with strong demand across all
our operating areas.
As highlighted in February, the profile of legal completions in
2016 will be weighted to the second half year in a similar manner
to 2015, whilst the anticipated increased overhead costs being
incurred to manage the enlarged Group will be evenly spread over
the year. We are continuing to make operating improvements across
the business which are providing opportunities for higher profit
margins in the future. We continue to see the level of cost
inflation moderating compared to our experience in 2015.
Land
At this point in the cycle, adopting our normal disciplined
approach to land investment, we continue to invest in high quality
consented land. We have a strong pipeline with terms either agreed
or progressing through strategic conversion to deliver the targeted
level of new site acquisitions during 2016.
Dividend
Subject to shareholder approval at today's AGM, a final dividend
of 26.3 pence per share (2014 final: 23 pence per share) will be
paid on 20 May 2016, giving a total dividend for 2015 of 40 pence
per share (2014 total: 35 pence per share).
Certain statements may be forward looking statements. Forward
looking statements involve evaluating a number of risks,
uncertainties or assumptions that could cause actual results to
differ materially from those expressed or implied by those
statements. Forward looking statements regarding past trends,
results or activities should not be taken as a representation that
such trends, results or activities will continue in the future.
Undue reliance should not be placed on forward looking
statements.
-ENDS-
Enquiries: David Ritchie, Chief Executive
Earl Sibley, Group Finance Director
Bovis Homes Group PLC
Tel: 07921 107717
Reg Hoare / James White / Giles Robinson
MHP Communications
Tel: 020 3128 8540
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMALMFTMBTMBAF
(END) Dow Jones Newswires
May 10, 2016 02:00 ET (06:00 GMT)
Grafico Azioni Vistry (LSE:VTY)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Vistry (LSE:VTY)
Storico
Da Set 2023 a Set 2024