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| Bovis Homes announces its interim results for 2008 Bovis, the UK's fifth-largest housebuilder, reported that it generated £149.3 million of revenue in the first half of 2008, a fall of 43% versus the comparable period (2007: £259.9 million). Housing revenue fell by 40%, contributed to by a 32% reduction in legal completions from 1,256 homes legally completed in 2007 to 851 homes legally completed in 2008. In the first half of 2008, Bovis delivered a private home average sales price of £196,700, some 4% lower than the average sales price delivered for private homes in the first half of 2007 of £204,500. The social and partnership homes average sales price for the first half of 2008 was £87,800, a 3% decline on the previous year (2007: £90,400). In total, the group’s average sales price for the first half of 2008, at £167,600, was 12% lower than that of the previous year (2007: £189,600), primarily from the impact of social housing increasing in the selling mix from 13% to 27%. Land sales reduced substantially compared to the prior year, with revenue of £4.9 million, and profits, less option costs, of £2.1 million, as compared to revenue of £19.1 million and profits, less option costs, of £8.6 million in the first half of 2007. write your comments about the article :: © 2008 Construction News :: home page |