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Bovis Homes Home Deliveries Up 3%; FY Profits To Be Slightly Ahead Of Consensus

Bovis Homes (BVS.L) reported that the Group delivered a total of 3,759 new homes in the year compared to 3,645 new homes, prior year, an increase of 3%, in-line with expectations. Private homes totalled 2,567 units compared to 2,573 units, last year. Looking forward, the Group said it expects to deliver a significant step-up in operating margin for 2018, with profits for the year expected to be slightly ahead of market consensus.

The Board intends to recommend a final ordinary dividend of 38.0 pence per share bringing ordinary dividends in respect of the 2018 financial year to 57.0 pence per share and total dividends including the special dividend of 45.0 pence per share paid in November 2018, to 102.0 pence per share.

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