VTY Vistry Group Plc

RNS No 4853a
BOVIS HOMES GROUP PLC
14th May 1998


         1997 Annual General Meeting: Chief Executive's AGM statement         

Bovis Homes Group PLC, a leading UK housebuilder, held its first Annual
General Meeting at 12 noon today.  At the meeting Malcolm Harris, Chief
Executive, commented :

"1997 was a successful year for Bovis Homes which saw the Group's pre-tax
profit rise to #37.3m in our maiden set of Preliminary results, this compared
with the forecast of #37.1m made at the flotation last December.  The outlook
for the UK housing industry is good with current mortgage interest rates at a
substantially lower level than the average of the last twenty five years with
a possibility of them being reduced over the next year.  Affordability is of a
favourable ratio of income to purchase price with earnings rising broadly in
line with improvement in selling prices that we are achieving in respect of
new homes.

"Our trading experience to date in 1998 is that of a steady market with all
divisions of our business reporting improved margins.

"Our expansion in the north of England is particularly encouraging as is our
general level of activity in the land market with our land bank improving
since the year end.

"Planned additions to our product range, coupled with our excellent low cost
bank and capable management, will I believe - barring any unforeseen major
economic changes - enable us to achieve our objectives of expanding the
business and improving shareholder value over the short, medium and long term.
We look forward to the Group achieving another year of successful growth."

Issued by:

Julian Bosdet/Henry Harrison-Topham          Tel:  0171 329 0096
Shandwick


END

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