Despite this the housebuilder said its margins were improving in “stable market conditions”
Bovis Homes expects to report a drop of almost 10% in completed reservations for 2011 in its half-year results at the end of August.
The housebuilder, in a trading update, forecast a total of 1,333 completed reservations this year - down 9% from a total of 1,474 last year.
However, Bovis Homes said its margins were improving in “stable market conditions”. In the first six months of 2011, it completed 801 homes, compared with 803 homes in the same period last year.
The firm predicted an operating margin of at least 7% for the half year - up from 4.2% in the first half of last year.
Bovis intends to launch 33 sales outlets during 2011, of which 19 have already opened.
The average number of sales outlets for the year will be 73, up slightly from 66 in 2010.
Chief executive David Ritchie said: “On the basis of the current stable market conditions continuing, the group remains confident that it can deliver on its expectations for 2011 and will continue to invest to increase output capacity to deliver higher returns to shareholders.”
30 August 2011
5 August 2011
8 July 2011
8 July 2011