Housebuilder anticipates another solid performance in 2007 as forward sales increase 15%

Bovis Homes has increased pre-tax profit by 13.7% to £132m for the year ended 31 December 2006.

The housebuilder said that 2006 had been a strong year and said fundamentals were in place for another good performance in 2007.

Bovis said that future growth was underpinned by an 11% rise in housing plots to 24,719 and a strong forward sales position, which was up 15% year on year.

Bovis Homes chief executive Malcolm Harris said: "2006 was a year of excellent progress, with good growth in pre-tax profits, a high return on capital employed and strong cash management.”

Total revenue increased by 14.6% to £597.3m and legal completions grew by 15.6% to 3123 units. Final dividend for the year increased 20% to 30p per ordinary share.

The group also confirmed two senior management changes. Group finance director David Ritchie has been appointed as group managing director. He has been replaced as finance director by Neil Cooper who previously worked in senior finance roles at Reckitt & Colman and Whitbread.

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