Realistbear Posted January 14, 2011 Share Posted January 14, 2011 (edited) http://uk.finance.yahoo.com/news/Bovis-warns-subdued-year-weak-reuters_molt-2025318877.html?x=0 Bovis warns of subdued year on weak mortgage volumes 8:02, Friday 14 January 2011 BANGALORE (Reuters) - Bovis Homes expects full-year profit to come ahead of estimates on higher selling prices and plans to restart dividends, but the housebuilder warned of a subdued year ahead . "Mortgage approval volumes remain weak, with mortgage providers requiring high levels of deposit, particularly from first time buyers," the company said in a statement. British homebuilders are grappling with consumer sentiment hit by higher taxes, government spending cuts and a dearth of mortgage availability. Earlier this week, leading mortgage provider Halifax said British house prices fell at their fastest annual rate in more than a year in December, while Persimmon (LSE: PSN.L - news) warned of little price growth this year. The market is deteriroating rapidly. I am so happy I could scoff an entire packet of McVities in one sitting. Edited January 14, 2011 by Realistbear Quote Link to comment Share on other sites More sharing options...
GordonBrownSpentMyFuture Posted January 14, 2011 Share Posted January 14, 2011 BBC: Bovis Homes to resume dividend payments after surprise profits rise Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted January 14, 2011 Share Posted January 14, 2011 RB - it says profits are AHEAD of expected - nothing about profit warning at all :s Though I agree a good bearish article, your headline is misleading. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 14, 2011 Author Share Posted January 14, 2011 RB - it says profits are AHEAD of expected - nothing about profit warning at all :s Though I agree a good bearish article, your headline is misleading. You are living in the past (2010). Bovis are looking ahead to 2011 and they are "subdued" whcih is VI speak for a bad year ahead. Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted January 14, 2011 Share Posted January 14, 2011 Agreed but in the meantime the shares will rise. The way I read the headline was that they issued a recent profit warning! Quote Link to comment Share on other sites More sharing options...
unclefester Posted January 14, 2011 Share Posted January 14, 2011 Shame you have to travel all the way to Bangalore to find an honest journalist Quote Link to comment Share on other sites More sharing options...
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