Bovis Homes has reported a 19% rise in gross profits to £100.3m in the first half of 2016.
Revenue was also up from £350.7m to £412.8m – a rise of 18%.
Average sale price on completions rose 14% to £254,500 as the number of completions rose from 1,525 to 1,601 in the 12 months to June.
The housebuilder had a consented land bank of 19,477 plots across 138 sites at the end of June, down from 19,814 plots in 142 sites in December.
Bovis chief executive David Ritchie said: “While it is too early to judge the impact of the EU referendum and the Bank’s monetary policy response on the UK housing market, the underlying market fundamentals for UK housing remain positive.
“We have been pleased with the resilient level of interest shown by potential home buyers contacting us.
“Overall, we remain confident in our strategy to deliver long-term growth in shareholder returns.”
| H1 2016 | H1 2015 | Change | |
|---|---|---|---|
| Revenue | £412.8m | £350.7m | 18% |
| Housing gross profit * | £100.3m | £84.1m | 19% |
| Operating profit | £63.9m | £54.3m | 18% |
| Operating profit margin | 15.50% | 15.50% | |
| Profit before tax | £61.7m | £53.8m | 15% |
| Basic earnings per share | 36.5p | 32.1p | 14% |
| Dividend per share | 15.0p | 13.7p | 9% |
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