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Bovis Issue Profit Warning- "the Market Is Deteriorating Rapidly" R B

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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. :D:D:D:D

Edited by Realistbear
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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.

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