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Bovis back in black and says dividends will return
8 Mar 2010Bovis Homes returned to profit today and said it will soon start paying dividends again.
The house builder reported profits of £4.8 million for 2009 having made losses of £78.7 million a year earlier.
Chief executive David Ritchie said Bovis made a “solid start” to 2010 with sales 26% higher than this time last year. He said there would be no final dividend for 2009.
Bovis also said it was well placed to build more houses as markets recovered.
“The group is now well placed to use its balance sheet strength to acquire new land for homes to support future growth,” it said.
Bovis Homes, which demerged from the transport group P&O after its flotation on the stock market in 1997, said it completed 1,803 homes at an average selling price of £154,600 in a trading update in January.
