Having taken a plunge many house builders are now possibly on the up again.

The rush to get homes on the market has led to shoddy workmanship. Cheaper to spend a few extra days making good. Costs less in the long run.

Manuel,

It depends on how long you expect to live for.

I would think and hope for an early slight rebound.

---

I have the misfortune of holding IRV as well.

C'est la vie.

quite so :-)
balanced out in that sector by TW. and RMV

Peel Hunt comment today:
"Full-year results. Full-year PBT of c£155m missed the revised guidance of £160m-170m and compares with £160m in 2015. Operating margins slip 210bp to 15.2%, leaving them 350bp behind the sector average. Revenue was slightly better than expected at £1,055m, although the volumes and ASP were only marginally better, indicating higher other sales than expected. The dividend has been increased 13% to 45p (vs 44p est)
Balance sheet and land bank. The group finished the year with net cash of £39m vs our estimate of £18m. However, the land held in the land bank shrunk by 6% to 18,700, well short of our estimate of over 21,000. The land bank has now shrunk to 4.7 years from 5.0 years and compares with the sector average of over 5.2. On top of this, the group has c25,500 strategic plots.
Outlook and forecasts. Guidance for 2017 has been cut hard with volumes now expected to be 10-15% below this year's level (which implies a 15-20% reduction on our estimates) as the business sorts itself out. We struggle to see how margins can move forward, whilst this process of rectifying the problems is going on, which means PBT forecasts are likely to come back 15-20%. Management has committed to paying the same level of dividend (45p) in 2017.
Performance and valuation. Until today, the shares hadn’t performed that badly vs the sector due to bid speculation offsetting the profit warnings. In our view, the likelihood of the company being bought by any other industry players looks remote giving the liquidity in the land market. Therefore, the key to the shares performing better will be the group’s ability to turn itself around operationally. Without knowing who the CEO will be to lead this charge, we see no need to get involved especially given the wide choice of other attractive housebuilders.

Manuel.

I am lucky sometimes and hold TW and CRST RDW and a few other "builders".

CRST is interesting with nice forecast yield.

Must remember to inflate my life buoy.

Sorry for anyone in this. I have CTO, NMD, TW. and PSN in this sector and really don't want any more as I'm very overweight.

I think there's money to be made here at the right price. I'll do some math and share my views over the next few days

Bovis to pay £7m to compensate customers for poorly built homes.

SP drops roughly 10% as builder talks about slower buidling speeds so as to to improve quality.

Beaufort Securities today reaffirms its buy investment rating on Bovis Homes Group PLC (LON:BVS) and cut its price target to 840p (from 925p).

Brave call from Beaufort.

This company are going to have trouble selling at the fantasy prices after this faux pas.

Pictures don't look good.

:)

That 'half a sleep' fish looks as though it's just about to take a juicy morsel.

:-)

The Pru go above their 5% on the dip.

Buy on the bad News / Dips....still a good dividend...Sector is rising, Houses still in demand....keep buying a few & average out.....Management certainly tightening their belts.....looks a fair punt to me & with a possible "take-over"

expect a decent jump in sp in the morning with Redrow now being firmly in the picture - see ST front page biz section
Berkeley Homes were approached to make an offer several weeks ago

one way or another, it looks that BVS's days as a separate entity are numbered ..... phew, puffs my sipp holding :-)

BBC Business News reports thar Redrow rejected out of hand, Galliford Tty also rejected but talks will continue

rejection is expected, but that now looks like 3 are in the ring and i'ld be surprised if BVS have either the firepower or the support of their institutional investors to stay independent

StockMarketWire.com
Bovis Homes Group has rejected an approach by Galliford Try but appointed its former chairman and chief executive, Greg Fitzgerald, as the group's new CEO.

Fitzgerald spent more than 30 years of his career Galliford Try increasing the scale of the housebuilding business and improving profitability.

Bovis said Fitzgerald's appointment as CEO would take place with effect from 18 April when Earl Sibley would resume his role as group finance director.

Bovis also said that its board had reviewed Galliford Try's merger proposal and concluded that it failed to reflect the underlying value of the Bovis business.

It said the board had decided to reject the proposal as it believed that an independent strategy under Fitzgerald's leadership would deliver greater value for shareholders.

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.




wSS