January 12, 2018 / 7:13 AM / a year ago

UK builder Bovis says on track for significant profit growth in 2018 ​

LONDON, Jan 12 (Reuters) - British builder Bovis, undergoing a turnaround after seeing off two failed takeover bids last year following a profit warning, said it was on track to deliver a significant increase in profit in 2018.

The firm, which saw the number of homes it built in 2017 fall by 8 percent to 3,645 units as part of efforts to focus on quality after criticism from some customers, said its pre-tax profit would be in line with expectations in 2017 and grow in 2018.

“Our forward order position is strong, and with robust industry fundamentals, we expect the Group to deliver a significant improvement in profitability in 2018,” said Chief Executive Greg Fitzgerald.​ (Reporting by Costas Pitas; editing by Kate Holton)

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