Bovis Homes Group PLC Reports Group Trading Results for the Year Ended December 31, 2017; Provides Group Earnings Guidance for the Year Ended December 31, 2017 and for the Year 2018
January 12, 2018 at 02:00 am EST
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Bovis Homes Group PLC reported group trading results for the year ended December 31, 2017. For the year, the company delivered 3,645 (2016: 3,977) completions in a controlled and disciplined manner. Private homes in the year totalled 2,573 (2016: 2,903) units with affordable housing totalling 1,072 (2016: 1,074) units, representing 29% (2016: 27%) of total completions. Overall average selling price on completions in the year increased by approximately 7% to approximately £272,000 (2016: £254,900) with private average selling price increasing by approximately 9% to approximately £334,000 (2016: £306.000). The increase largely reflects changes in mix with a modest increase in underlying selling prices in the year. The company starts the year with an forward sales position, with total forward sales of 2,656 units and a value of £518 million as at 31 December 2017.
The company provided group earnings guidance for the year ended December 31, 2017 and for the year 2018. For the year 2017, the company's profit before tax, one-off and exceptional items are anticipated to be in-line with management expectations.
For the year 2018, the company expects to deliver a significant improvement in profitability in 2018.
Vistry Group PLC is a United Kingdom-based company that develops new homes and communities across all sectors of the United Kingdom housing market. The Company's segments include Housebuilding, Partnerships and Countryside. The Housebuilding segment develops sites across England, providing private and affordable housing on land owned by the Group or the Groupâs joint ventures. The Partnerships segment specializes in partnering with housing associations and other public sector businesses across England, including London, to deliver either the development of private, affordable, and private rental sector (PRS) housing on land owned by the Group or the Groupâs joint ventures, or to provide contracting services for development. The Countryside segment partners with housing associations and other public sector businesses across England, including London, to deliver the development of private, affordable, and PRS housing on land owned by the Group or the Groupâs joint ventures or associates.
Bovis Homes Group PLC Reports Group Trading Results for the Year Ended December 31, 2017; Provides Group Earnings Guidance for the Year Ended December 31, 2017 and for the Year 2018