North West remains active, says Bovis Homes
The housebuilder said there will be a healthy number of active sites in the North West during 2011, after announcing pre-tax profits in the company had increased by 147%.
Within the group's preliminary results for the financial year ended 31 December 2010, Bovis Homes said pre-tax profit increased to £18.5m last year from £7.5m in 2009.
David Ritchie, chief executive of Bovis Homes Group, told Place: "While we are focussing on the south we still have sites in areas such as the North West contributing to the overall performance of the company. We have Brook Valley in Congleton, Smithills Glade in Bolton, and Dean Lane in Greater Manchester and over the next couple of years we're going to be on a site in Nantwich in Cheshire offering two and three bedroom properties at an average price of £160,700."
"The south is providing better opportunities than in the north to drive sales but we believe there will be a stable market and look forward at continuing the work we're doing in areas such as Nantwich."
Ritchie said group revenue had increased by 6% to £298.6m in 2010, compared to £281.5m in 2009, after the company had sold 1,901 homes last year across the UK, compared to 1,803 in 2009.
Within the first nine weeks of 2011, Bovis said reservations were up 11% and it also expects to launch 33 new sales outlets this year.
Ritchie added: "The group has delivered a strong improvement in profit in 2010, driven by increased volumes, stronger sales prices and delivery of cost savings.
"The group has also made significant progress with its growth strategy through substantial land investment, a strong pipeline of further land acquisition opportunities and a strong expected increase in active sales outlets. Based on a continuation of current market conditions, this growth strategy gives the group confidence in delivering greater volumes and increased profits."
