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| Bovis Homes releases its interim management statement Bovis Homes, the British housebuilder, issued its interim management statement for the period from 1 July 2010. The Group has achieved 1,900 home sales which are anticipated to legally complete during 2010, split c1,600 private homes and c300 social homes. Bovis Homes currently has over 250 forward sales for legal completion during 2011, a total which will grow through the remaining eight weeks of 2010. Based on the Group's average number of active sales outlets of 66 for 2010 to date, Bovis Homes has achieved an average sales rate per outlet per week of 0.42 homes as compared to 0.37 sales per outlet per week in the same period of 2009, representing an improvement of 14%. Bovis Homes has succeeded in achieving sales prices above its internal target levels during 2010. The Group expects the average sales price of legal completions in 2010 will be approximately £160,000, some 3% ahead of 2009's average sales price of £154,600. This, when combined with the initial benefits of construction cost savings, has generated improvement in both gross profit margin and operating profit margin. As previously guided, Bovis Homes anticipates that its 2010 operating margin will exceed the previous year's level of 6.2%. write your comments about the article :: © 2010 Construction News :: home page |