Bovis builds a brighter outlook
Tuesday 24 August 2010
Bovis Homes put aside two years of weakness in the housing market yesterday, reporting a first-half profit and sounding a note of optimism for the rest of the year.
The housebuilder said that profits in the first six months of the year jumped to £3.5m, up from a loss of £8.6m in the same period last year as the UK economy emerged from recession.
The chief executive David Ritchie also brushed aside worries that Government cuts, set to be outlined in the autumn and designed to close the gaping hole the UK's public finances, would have a marked effect on the housing market.
"We do not yet know where the cuts are going to come from, or how heavy they will be, but consumer confidence has already been hit, so we are already working with the problem," he said.
"When people don't know the facts, they tend to assume the worst. We have seen a remarkable stability of sales rates week on week, clearly people talk about the summer being quieter than the spring, we've seen a bit of that, but each week we appear to get over the line in terms of the number of houses we need to sell." Bovis shares fell 5.6p to 342.8p.
Diving in at the deep end is no excuse for shirking the style stakes
- 2 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
- 3 Why I'm on the brink of burning my Israeli passport
- 4 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 5 The true Gaza back-story that the Israelis aren’t telling this week
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Loom bands: Bids for dress made from colourful rubber reach almost £154,000 on eBay
Israel-Gaza crisis: Eight killed in Gaza Strip cafe while watching World Cup semi-final
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
There’s a nasty smell in the political air – and it’s coming from the Tories
iJobs Money & Business
£50000 - £70000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£300 - £350 per day + competitive: Orgtel: My client, a leading bank, is curre...
£28000 - £32000 per annum + pension, 25 days holiday: Ashdown Group: A highly ...
Negotiable: Randstad Education Birmingham: Randstad Education are seeking a Fi...