FINANCE: Housing developer Bovis Homes increased its profits 69% to £133.5m, as the increase in house prices helped produce stronger performance across the group.
Average sale prices of completed properties rose 11% to £216,600 in the year to December 2014. The company also completed on 29% more properties – up from 2,813 to more than 3,600.
The number of development sites increased by 42%, or 7,300 plots, in 2014 which the company expects to equate to more than £1.7bn in future revenues.
The company said it had sold 237 plots in 2014 in an effort to make better use of capital.
Earnings per share rose 75% to 78.6p.
