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7 months ago
Bovis Homes says profit will be hit by December slowdown
December 28, 2016 / 7:28 AM / 7 months ago

Bovis Homes says profit will be hit by December slowdown

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LONDON, Dec 28 (Reuters) - Bovis Homes said it would not deliver the number of houses it originally expected in 2016, after about 180 sales failed to complete before the end of the year, resulting in a likely miss against market profit forecasts.

The British company said volume delivery for the year would be lower than previously anticipated at between 3,950 and 4,000 homes, as it experienced slower-than-expected build rates during December.

Profit before tax for year ending Dec. 31 was expected to be within a range of 160 million to 170 million pounds, depending on final volume delivery, it said.

Analysts were expecting on average profit to be 183 million pounds ($225 million), according to Thomson Reuters data.

$1 = 0.8139 pounds Reporting by Paul Sandle. Editing by Jane Merriman

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