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Bovis enjoys housing market upswing after record first half

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Bovis Homes (LON:BVS) said trading continued to be “robust” as it ended a record half – one in which it sold almost 1,500 houses.

The average price rose 11% to £210,000 and the company, giving guidance ahead of the interim results, told investors and analysts its operating margin had increased to 15% from 11.1% in the comparable period last year.

Chief executive David Richie said: "The group's results are now benefiting from our assertive, disciplined strategy of growth through land investment and we are well positioned to deliver our 2014 targets.  

“Looking further ahead we are confident that further improvements in key financial metrics can be delivered and that ongoing land investment will continue to strengthen the business and further enhance shareholder returns."


Quick facts: Vistry Group PLC

Price: 572 GBX

LSE:VTY
Market: LSE
Market Cap: £1.25 billion
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