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| Bovis Homes reports slowdown Bovis Homes Group plc, one of Britain's best known housebuilders, has issued 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 its internal expectations. Bovis Homes 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. The company 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. Bovis Homes has secured 2,282 cumulative reservations for the year as at 30 June 2007, as compared to 2, 73 reservations at the same point last year. These figures reflect a recent slowdown in both visitor rates and in reservation rates. write your comments about the article :: © 2007 Construction News :: home page |