UK house builder Bovis has announced a 48% increase in pre tax profits from £53.2m to £78.8m on revenues of £556m. Its operating profit margin was 14.9%, up from 13.3% in 2012, despite an increase in brick supplier costs.
The surge comes after increasing sales on larger homes and investing in a greater proportion of higher value sites in the south of England. David Ritchie, chief executive, said: “The housing market is recovering. Buyers are more confident and Help To Buy has helped first-timers get on the ladder. We don’t expect growth to stop.…
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