UK housebuilder Bovis Homes has said its pre-tax profit would be £115m ($158m), a drop of around one quarter, but in line with forecasts, according to CEO Greg Fitzgerald. "The group had a very disciplined year end and delivered against all of its financial and operational targets for 2017", he added. The company also reported that it expects the number of new homes built this year will fall by about half compared to last year, as demand from overseas buyers slows. Last year, Bovis CEO David Ritchie retired following a profit warning, while the firm saw off takeover bids from Redrow and Galliford Try.
UK housebuilder Bovis Homes has said its pre-tax profit would be £115m ($158m), a drop of around one quarter, but in line with forecasts, according to CEO Greg Fitzgerald. "The group had a very disciplined year end and delivered against all of its financial and operational targets for 2017", he added. Fitzgerald revealed there had also been a "significant improvement" in customer satisfaction levels. Last year, Bovis CEO David Ritchie retired following a profit warning, while the firm saw off takeover bids from Redrow and Galliford Try.