Oh dear, two large companies combine and, like an intergalactic "event" only negative matter remains....a case of 1 + 1 = 0.2

Let me say - sp a year ago was 10x today's - so this business has earned its place in the 90% club....and maybe more to come, as they will need to go overseas for cash, if the UK is dry.

I doubt there is a UK Builder with enough dosh to bail-out this dullard. They all thought they could expand until the UK burst with immigrants - yet they consistently went for pricier properties and projects where ( even now), there is some doubt whether there are enough jobs to support new-build developments.

EDIT ( Nov 2015 ) - Seven years on and we're at 183p - so anyone that bought at the all-time Low has done very well - but the Market was fearful and that meant few were Buying. 2009/2010 averaged about 40p - that was a good time if you had the LT cash.
With the rise and yield-multiplier effect, this is looking like Buying it was "probably" inspired.... but it has not regained that earlier Value - which will surely take a lot longer.

What's the medium to long term view on these?

Trading Update

Reasonable volume today.

Results for the six months to 30 June 2009

Being dragged up on the tails of BLND today probably.
However a potentially rewarding recovery stock (along with BDEV, PSN & RDW).

I didn't know this thread was here ,i've been in for a couple of weeks. I said over on the BLND thread that i'm not sure this market isn't getting a little overheated.

I find the best strategy is to buy a fixed amount, depending on your finances, hold a certain percentage & trade the rest. It increases the dealing charges, takes advantage of the mini rises & falls in the stock, but at the same time hedges in the case of a sudden rise by ensuring you are still 'in'.
In a couple of years time we are all going to wish we had bought this kind of stock much earlier, imo.

I agree harry it should be a good recovery play.

I think house prices have further to fall and there will be better buying oportunities of housebuilders over the coming months.
2517

If unemployment continues to rise significantly there will not be a recovery in the housing market.

Exactly halifax, and with financing tight the housing market 'recovery' will falter, most housebuilders share prices have got ahead of themselves imo.
2517

Read todays article about the state of repossessions on FT.com not looking good.

Cheers halifax, makes for grim reading for those concerned.
2517

From a trading point of view the trend is up! There are times when the market seems to shrug off negative news - we seem to largely be in that position atm. There may well be a correction coming, but atm the trend is up!

Rumour is 'thetownshouse' has been buying into this one.Worth watching imho!

watch out for argy2 he talks a lot of bollocks.........

Next stop ten bob?

Going well again ,,,,,your giving your age away skinny..

Well i'm happy with that..

FT Comment
Bovis has joined Berkeley and Bellway in a select club: UK housebuilders with net cash. That is a good position to be in at a time when the opportunities for buying builders key material land are reckoned to be the best in a generation. Bovis is hobbled compared with the other two by the fact that its cash flow-based banking covenants restrict its ability to spend big, but renegotiation of these will start in the next few months. There are cheaper picks for investors among the housebuilders now Taylor Wimpey and Barratt Developments are priced at less than half the value of their net assets but in normal times housebuilders will sit at twice net asset value. Bovis is still only at 1.02.