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Davy Research
Bovis Homes plc (BVS.L, BVS LN)
- 1667.1
- 134.7
- 99.0
Company Profile
Building primarily in the southern part of England, Bovis Homes builds just over 3,000 houses each year. The group is the sixth-largest quoted UK builder by unit completions and is a member of the FTSE 250 Index. The group's main product is the standard private home with c.54% of completions split among traditional, three-storey and room-in-roof homes. The balance is split among apartments (22%), social housing (15%), partnership housing (7%) and retirement housing (2%). The group has a strong focus on quality, and all houses are delivered with a full specification including items such as wardrobes, kitchens etc. The group's target market is essentially the trade-up market. Exposure to the buy-to-let market is limited, although the group does deal with some small investors. Bovis builds primarily across the southern regions in England. The group's operations are split across the south-east (24%), the south-west (28%), the east (17.5%) and the central region (23%). Completions in the north totalled 91 units in 2007 and accounted for only 7.5% of all completions.
| Major Shareholders | % |
| Franklin Resources | 8.1 |
| Blackrock | 8.0 |
| Woodford Investment Mgmt | 5.5 |
| Schroders Investment Mgmt | 5.2 |
| Standard Life Aberdeen | 4.9 |
BOVIS HOMES PLC
Closing Price (p): 1238.0
PREVIOUS RATING
UNDER REVIEW
Analyst(S)
Colin Sheridan CFA +353 1 6149936
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