recommended by the fleet street group,it looks promising!

Is is possible you could post the article ?

SAW

totally depends on your view of the housing market and the reation of the city to any further news re interest rates and also further press re house prices crashing/slowing.

I used to work for one of the FTSE 350 builders (not Bovis) until a few months ago as regional FD so know the industry quite well. i did a review of the fundamentals last week as I am looking for an entry point for MCTY (McArthy and Stone). Bovis come out well in the comparisons in terms of margins derived and they are on a industry standard PE.

Quick Overview:

Last yr results:

no of houses 2482
turnover 478.4m
op profit 129.2m
mgin % 27%
PBT 123m
PAT 86.5m
EPS 75.3p
ROCE 21.9%
Gearing 13.9%
Yield 3.2%
PE Ratio 6.7
PEG 0.42

This Yr F/C

turnover 561m
PBT 142m
PAT 99.4m
EPS 86.6p
PE Ratio 5.8


Hope this is of some help to you. if you want any of the comparators data let me know.

Fundy, think we spoke b4 somewhere about this, as I was thinking of sellg BVS and going into MCTY, sorry if u did reply somewhere but I dont watch the boards all day so didnt see it. Thanks for above, can you email me the other data, cheers, Amber

Amber

Send me an internal email with your email address and will do - it is in the form of an Excel s/s and dont know how to post it!

cheers fundie,have done, thanks in advance, Amber

Amber

still havent received it - do you want to try again?

Fundamentalist,

I am just going to send you a test message to make sure all is ok. Can you let me know if you receive it?

Ian

Nothing as yet - strange as Fred1New sent me mail yesterday ok - will keep checking

Fundamentalist,

The mail I sent through the BB has just bounced back to me saying 'invalid recipient' I can see from our records that the address we hold in our database is different from the one you have put in the BB message system. Could you take a look at your profile to check the address and make sure it is correct?

Ian

Ian

profile has the correct email address - i changed my email since i first joined moneyam. as i said, i received an internal mail from fred yesterday. I am happy for you to send amber my email address if that would solve the prob.

Fundametalist,

I will do that for you, but I will also send a mail directly to you to test, because as I said, the mail I sent through came back with the following message from your E mail provider, 'invalid recipient'


Thanks

Ian

Fund,

I have just sent a mail using my own E mail address, which has bounced back to me with the same error message can you E mail me so that I have the correct address and I will try again - ian@moneyam.com

Ian

mail sent

Amber

My details are now up to date if you want to try again.

Cheers

Amber

Ive sent the email - let me know if you dont receive it.

What a pavlova...but received in the end, looks very informative, will digest in the morning with breakfast. Thanks for all the effort, hope your email is working now. (by the way Ian, I never got the return message 'invalid recipient" bit though - strange)

Interesting day for housebuilders, the shares are up on the back of Berkeley results. Havent read them yet - will do later and post my thoughts!

Yes little increase for BVS and others, looked at the spreadsheet, really helpful data, cheers,

Amber

Well, it's flying today!

And again today. Everyone else seems to have lost interest but Bovis is bucking the trend at present and doing very nicely I feel.

Flying today too - whats the news anyone?

News seems to be take over talk in the sector, with Persimmon rumoured to be interested in Westbury. Bovis identified as favourable target as well

A good home for your money at present then!

Hi queen1 and g64946 (whom I very pleased to meet) - all the nicest people on the nicest threads.

Yes BVS has been steaming ahead in recent weeks - long may it continune. I concur with take over theories, but also on fundamentals it is a cheap stock even at this level. P/E of 7.62 and Yield of 3.2% for 2005 - it's one of those long term value growing income shares that recent reports have been stating give you a much higher return over 10years+ than chasing high growth low/no income stocks.

This one will chug away until I retire I hope (many, many years, in case you're asking!)

SD

Stockdog - It's a pleasure to be complimented by you! If BVS were to be targeted (which, let's face it has been part of the attraction for some time now), what price do you think a potential buyer would need to pitch at to ensure success?

queen1 - not a clue, but I assume it's higher than current price by, say, 25%.

The other way is to look at the P/E for the Construction seector and/or the FTSE250 and muliply the SP by this divided by the BVS P/E - a measure of what SP brings the share into line with the prevailing market = plus a small premium on top for the value of good management being acquired?? Sorry, not time to reseach this statistic just now. If you find it let me know - useful guide to when SP becomes fully valued with no takeover materialising.

Do you remember that old TV commercial they used to do - "Bloody long way for a brick!"

SD

Thanks stockdog. No, don't remember that one. Was it anything to do with "Shake 'n' Vac"? Now that was an advert! Or was it the little kid walking up and down the hill in the Northern mining village for a loaf of bread....Ah, that'll be Hovis. Almost!

That's the one - always get it wrong!

SD

In answer to the first post on this thread - yes, it's flying.

Don't think we could have asked for more than this from a company in a sector supposed to be entering recession (which builders of new homes are not, by the way - that's the secondary market that's nose-diving).

Good results and 22% hike in the dividend, plus promise to double the divvy over 4 years - a perfect lockaway stock if ever I saw one. Panmure Gordon raises its target from 750 to 800.

SD


AFX announcement today. See RNS for full accounts.

Bovis Homes commits to doubling div over 4 years as FY pretax rises - UPDATE

(Adds further detail and comment from results statement)

LONDON (AFX) - House builder Bovis Homes Group PLC said it plans to double its annual dividend over the next four years with an annual increase of 5 pence a share.

The news accompanied the group's results for the year to Dec 31, which showed pretax profits of 145.2 mln stg, up 18 pct from 123 mln stg a year earlier as turnover from continuing operations rose to 559.5 mln stg from 478.4 mln.

"The group has delivered a year of record profits with a 9 pct increase in the volume of legal completions and resultant strong cash flow," said chief executive Malcolm Harris.

"The stability of base interest rates since August 2004 has assisted consumer confidence and visitor numbers and reservations in early 2005 have been encouraging," he said. "The group is well positioned and, assuming an ongoing stable economic environment, the board is confident of the prospects for the group in 2005."

At the per share level, earnings rose 17.3 pct to 87 pence from 74.2 pence last time.

The group also announced a 22 pct increase in its annual dividend to 20 pence a share, with the final payout set at 13.6 pence.

In the latest year, the group's operating margin edged down to 26.7 pct from 27 pct a year earliern but the return on average capital employed edged up to 25.7 pct from 25.5 pct.

newsdesk@afxnews.com

I agree Stockdog, an excellent long-term investment with the potential for bids along the way. Shame more investors on the BBs aren't interested but then it's not a potential 10-bagger, blue-sky, share-of-a-lifetime opportunity!

Not been on this thread for an awfully long time! SP has taken a hit the last couple of months but encouraging signs at the moment. Has some good momentum building up and even today's poor figures from McCarthy & Stone didn't stop it ticking up again. Good times could be now.

Well it's flying now!!!

...Higher and higher!!!

Wow! Up over 4% today and broken its highs. Where to now I wonder?!!

a bid maybe??? one can hope.

Well it's long been a prime candidate if the sector really consolidated which is another reason for holding the shares.

Figures in line with previous revised expectations, and a 25% rise in the annual dividend. Not a bad effort in the current climate. Anyone else chosen Bovis as a home for their money or am I the sole tenant?

Up 4.5% today and smashed through the 900p mark. Now that's what I call flying!

Well done Queen1 - I got out of these as it went down the last dip - what you might call a tad early. Oh well, I didn't lose money on them. Sigh!

Thanks stockdog. At the current price I've doubled my money so am debating whether to take some profits or stay in for the increasing dividends and potential take-over premium.

Q
It's still a good yield and promised to grow 25% pa until it hits 5% (of what no longer sure!), but I suspect there will be a retracement of some magnitude at some point, especially if the wider market cools from its current heady heights. No blame would attach to bank profits IMHO - at least some, say 50% leaving the rest in for a free ride and having the fun of finding a new home for the other half.

WDIK - good luck.

sd

SD - That's exactly what I did this afternoon!!!

Very grown-up!

Well there's got to be one part of my life where sensible rules :-)

now all you need is a stop-loss on SEY!

But surely SEY will be 1 by Christmas?!!!!

so - you won't be stopped out then will you - but just in case the unexpected happens you'll be protected. Not saying set up an automatic one, they get triggered by freak intraday events too often - but have one in mind and stick to it. If you set it tight enough you can buy back in lower if the worst happens.

Cheers. Actually Shares Mag has SEY at 76p in three years according to analyst predictions so that will do me.

very nice too - see you there

Amazing days. BVS fallen from 920p to 750p in a couple of weeks and then up 48p, or 6.5% in just one day. An extreme example of the current market volatility.

This seems out of interest:

Yield and promises.

Headline DJ Bovis Homes Declares Special Dividend Despite Profit Fall
Date/Time Thu Mar 01 20187:59:14
By Ian Walker
Bovis Homes Group PLC (BVS.LN) on Thursday declared its first special dividend and raised its payout target, despite reporting a 26% fall in 2017 pretax profit as it sold fewer houses.

The house builder made a pretax profit for the year of 114 million pounds ($156.8 million) compared with GBP154.7 million a year earlier, on revenue that fell to GBP1.03 billion from GBP1.05 billion.

It sold 3,645 houses in the year at an average price of GBP272,400 compared with 3,977 houses in 2016 at GBP254,900.

The board declared a special dividend of 45 pence a share, which it expects to be paid toward the end of the year. It also declared a final dividend of 32.5 pence a share compared with 30.0 pence a year earlier, taking the total payout for 2017 to 47.5 pence.

The board plans to pay special dividends of GBP180 million--or 134 pence a share--over the three years to 2020. It said the company plans to declare dividends of 57 pence for 2018, and move progressively towards payouts that are twice covered by earnings in 2020.

Bovis said it has started 2018 with a strong sales position and that more than 40% of consensus 2018 revenues have been secured.

Average site visits during the first eight weeks were 14% higher than the same period last year, it said.

Headline DJ Bovis Homes Declares Special Dividend Despite Profit Fall
Date/Time Thu Mar 01 20187:59:14
By Ian Walker
Bovis Homes Group PLC (BVS.LN) on Thursday declared its first special dividend and raised its payout target, despite reporting a 26% fall in 2017 pretax profit as it sold fewer houses.

The house builder made a pretax profit for the year of 114 million pounds ($156.8 million) compared with GBP154.7 million a year earlier, on revenue that fell to GBP1.03 billion from GBP1.05 billion.

It sold 3,645 houses in the year at an average price of GBP272,400 compared with 3,977 houses in 2016 at GBP254,900.

The board declared a special dividend of 45 pence a share, which it expects to be paid toward the end of the year. It also declared a final dividend of 32.5 pence a share compared with 30.0 pence a year earlier, taking the total payout for 2017 to 47.5 pence.

The board plans to pay special dividends of GBP180 million--or 134 pence a share--over the three years to 2020. It said the company plans to declare dividends of 57 pence for 2018, and move progressively towards payouts that are twice covered by earnings in 2020.

Bovis said it has started 2018 with a strong sales position and that more than 40% of consensus 2018 revenues have been secured.

Average site visits during the first eight weeks were 14% higher than the same period last year, it said.