Tuesday, Aug 26, 2008
Still making money, though
BBC: Bovis profits fall 83%
Profits at house builder Bovis Homes have plunged 84% in the first six months of the year, as the squeeze on mortgages hurt the property market.
Bovis, which is cutting 400 jobs, said it had experienced its toughest trading since it became a public company. Profits fell from £58.4m to £9.5m
Last week Persimmon announced profits were down 87%.
Posted by little professor @ 08:10 AM (396 views) Add Comment
2 Comments
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1. Danny said...
If you look on Bovis website. They have a 'start your search from' figure. Which begins at £200k. Which is the minimum you are allowed to spend. And yet they stste that the reason they are not selling houses is because people are finding it hard to get a mortgate.
{How about reducing your unbelievable ridiculosly inflated prices by 50% +?!}
2. Adamsmithll said...
There have to be questions asked about the land valuations remaining unchanged. A cursory look at falling development land prices at auction should make the auditors check their professional indemnity policy.