**Bovis Homes Expects Higher Full-Year Earnings As Volumes and Prices Climb**
LONDON (Alliance News) – Bovis Homes Group PLC Friday said it is on course to report higher full-year earnings, with increased volumes on last year and robust sales prices so far in the second half.
“We are anticipating a strong increase in profit for 2014 and at the same time expecting to deliver a stronger forward order book for the start of 2015,” Chief Executive David Ritchie said.
The UK housebuilder said volumes are expected to be 30% higher than 2013 with average sales prices forecast to be up 10%. Operating margin is forecast by the company at around 17%, up from 14.9%, as strength in the property market continues to be buoyed by low interest rates.
The company said it has added around 6,000 plots in 33 sites in the period from July 1 to date and it has a substantial order book, holding 1,282 forward reservations for legal completion in 2015 compared with 726 at the same point last year.
By Ian Edmondson; email@example.com
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