Bovis in line with forecasts as market remains strong
Source - SMW
Bovis Homes Group is fully sold for its targeted FY 2017 completions with an average sales rate over the period of 0.52 (H1 2017: 0.48).
The group said pricing remained robust and it expected to deliver an increase in the average selling price for FY 2017, largely driven by changes in mix with a modest increase in underlying prices.
Group chief executive Greg Fitzgerald said: 'We are making encouraging progress towards all of our medium term performance targets with continued improvement in customer satisfaction and excellent progress in optimising the balance sheet and bringing additional cash into the business.
'We expect to have a net cash position of at least £100 million as at 31 December 2017.
'Trading is in line with expectations, the market remains strong, and we are on track to deliver another disciplined period end.'