It has proven to be a strong period for construction firm Bovis Homes (LSE: BVS), which saw it hit its 2013 targets for private reservations at a significantly quicker rate than in previous years.
In fact, they were up nearly 45% on what was achieved in 2012. This success was partly attributed to improved access to LTV mortgages, and the start of the government-run Help To Buy scheme.
In terms of future developments, the group have continued to invest aggressively into new plots of land. It has added a further 3,300 plots spread over 22 sites to their land bank, and another 1,200 on 13 sites are expected to follow shortly.
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In addition to this, it has a number of plots under negotiation, which they hope to complete on in late 2013 or early 2014. With this in mind, Bovis expects to deliver further strong sales growth in 2014 and 2015.
Chief executive David Ritchie commented:
“Our strong trading performance has continued through the third quarter and we are confident of achieving our targeted result for the year as whole. Our forward order book is in its best position for many years.
“With further increases in active sales outlets, supported by ongoing assertive land buying, the Group is confident of its future prospects and ability to deliver significantly improved returns.”
