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Bovis Homes H1 Profit Rises; In Talks Regarding Galliford Try's Housing Units

Bovis Homes Group plc (BVS.L) said it delivered an excellent first half performance with a significant step up in sales rate, record profits and a further strengthening of balance sheet. Looking forward, the Group said it is well positioned to deliver another strong performance in 2019.

The Group has re-engaged in preliminary discussions with Galliford Try plc regarding a potential combination between Bovis Homes and Galliford Try's Linden Homes and Partnerships & Regeneration divisions. The deal is anticipated to value the Housing Businesses of Galliford Try at 1.075 billion pounds.

First-half pretax profit improved to 72.5 million pounds from 60.2 million pounds, prior year. Earnings per share was 43.7 pence compared to 36.0 pence.

First-half revenue increased to 472.3 million pounds from 432.2 million pounds, last year. The Group reported a 4% increase in legal completions to 1,647.

The Group will pay an interim dividend of 20.5 pence per share on 22 November 2019 to holders of ordinary shares on the register at the close of business on 27 September 2019.

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