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

Mmm, 'bout time 2. Rumour that HBOS may be sniffing around

I've been in BVS for over three years now. Sold half my holding at about 9 as had doubled my money so this is now a free ride. Didn't sell the lot though due to the progressive dividend policy and my belief that they will get taken over at some point.

Good for you Queen1 looks like a good strategy that's paid off - fingers crossed.
Stockwell 1 - agreed it is about time, they took a huge battering earlier this year!
Good luck :>)

And to you stockbunny. Let's hope that bovis is a good home for all of our money!

No comment on monday's results I notice. Pretty impressive I thought:

Housebuilder Bovis Homes is optimistic for the full year. The group increased interim pretax profit by 18% to 53.1m. The company said it has grown operating revenue for the six months to June 30th to 250.5m compared to 214.5m last time, with average sales prices up to 188,700 from 179,700.

Malcolm Harris, CEO, said: 'Bovis Homes has delivered a good set of half year results. The Group has successfully increased the volume of legal completions year-on-year by 16% and the operating margin has been sustained broadly in line with that achieved in the comparable period of 2005.'

Harris said the UK housing market had demonstrated stability after a year of uncertainty in 2005, with fundamentals remaining sound. He added the 'robust half year performance' provided a 'sound base' for the 2006 full year.

The company said it would raise its interim dividend to 10p, up 20% from the 8.3p paid last year.

Through the 10 psycological barrier this week. Looking very good indeed.

Encouraging numbers:

Bovis Homes said housing completions for the year to December 31th increased by over 15%.

Updating the market ahead of presenting preliminary results on 12th March, the housebuilder said it expects good results in line with group expectations.

The average sales price increased by 4.7% to 183,700. The operating margin for the full year remained strong at approximately 23%.

Bovis Homes has improved its forward sales position significantly compared with the same time last year. Over 25% of the projected 2007 legal completions are now reserved with profit margins in line with group expectations.

I think the fact that forward reservations are up, despite the current spate of interest rate rises, is very promising:

Housebuilder Bovis Homes Group PLC said that based upon current trading conditions, it anticipates profits for 2007 will be in line with its expectations.

At an AGM today, chief executive Malcolm Harris said the company has experienced a steady housing market since reporting full year results to end December 2006 in March, but with an element of caution being demonstrated by purchasers in respect of interest rate increases.

Bovis Homes said it is continuing to generate a good forward sales position and cumulative reservations are 9 pct ahead of the figures recorded at this time last year.

In May this year they said :-

"In light of the recent market deterioration, the Board now expects that the
Group's results for the first half of the year to 30 June 2008 will be
significantly lower than it had previously anticipated and that with ongoing
market uncertainties, the outlook for the remainder of 2008 is difficult to
predict."

The share price has dropped further since then, along with others in the sector. This week we'll find out how badly hit they've been.................and whether their downturn in trading is already priced in the sp.

I'm waiting till next week's reporting is out of the way & then I'm going to drip feed into some of the housebuilders - but only those that are'nt to heavily geared and will look attractive to others once the eventual turn-around begins - hopefully within the next 18-24 months. I might just do the same with the UK Banks but I'll await their late summer interims first.

Trading statement worse than expected - someone's buying - but not me. They will most defintely make a loss this year & will probably need some re-financing.

Considering a short on this one anyone got a view?

Considering a short on this one anyone got a view?

Gone short at 442

the attached chart may help you a bit.
i am short WOS (qv) which i think shows a better pattern for shorting and is more generally focussed within the sector

Bovis hit the 50 ma on the weekly, some results out this Friday,likely writedowns, I believe with possible rate cut to spice things up. Seems overbought and at top of channel I.m short Wos too from 416. Difficult to know when Obama rally will self destruct. Dow seems to have broken through recent 8875-9100 trading range. FTSE didn't quite make 4700 which seemed fib retracement 6660-3600 roughly 38%

Interim results out today. Should make for interesting reading.

Business Financial Newswire
"Bovis Homes reported a first-half pre-exceptional profit of 1.2m, down from 11.7m last year.

The group said it is well positioned to take advantage of increasing number of opportunities to invest, but remains cautious on pricing
expectations. Bovis added that it has seen signs of market stabilisation in 2009.

Revenue in the first half-year ended June was 122.6m (2008 H1: 149.3m).

Pre-exceptional profit before tax was 1.2m (2008 H1: 11.7m) and pre-exceptional earnings per share were 0.4p (2008 H1: 7.1p).

Post-exceptional loss before tax of 8.6m (2008 H1: 9.5m profit)

Pre-exceptional gross margin of 16.2% (2008 H1: 26.3%) with pre-exceptional operating margin at 5.9% (2008 H1: 10.0%), reflecting the impact of falling average sales prices over 2008

Bovis said it had strategic landholdings of 18,588 potential plots
(31st December 2008: 18,972 potential plots).

Limited land write-downs of 8.9m were required as at 30th June 2009.

Net cash inflow was 94m in the period (2008 H1: 49m outflow).

Net debt before issue costs was 14m and gearing was 2% at 30th June 2009."

"Bovis Homes is pleased to announce the successful completion of the placing announced earlier today (the 'Placing').

A total of 12.1 million new ordinary shares of 50 pence each in Bovis Homes (the 'Placing Shares') have been placed by Deutsche Bank AG, London Branch ('Deutsche Bank') and RBS Hoare Govett Limited (RBS Hoare Govett) at a placing price of 500 pence per share, raising gross proceeds of approximately 60 million. The Placing Shares being issued represent approximately 10 per cent of Bovis Homes' issued ordinary share capital prior to the Placing."

BVS - BOVIS HOMES trading statement friday 15/1/2010



Fundies Backup..

BROKER CALL: Credit Suisse remains bullish on UK housebuilders
12 January, 2010 07:34:30 AM

Broker tells us: 'We cite an average 58% upside potential to our target prices. We now expect flat house prices in 2010 (previously down 5%) and thus do not anticipate any further impairments across the sector (we believe prices need to fall 14% from current levels for further impairments). We see the sector valuation, at 1.0x NAV, as attractive.' Credit Suisse retains its outperform ratings on Barratt (TP: 257p), Bellway (TP: 1256p from 1200p), Bovis (TP: 774p from 750p), Persimmon (TP: 642p from 606p), Redrow (TP: 215p) and Taylor Wimpey (TP: 65p). Maintains its neutral rating on Berkeley (TP: 920p from 903p).

and 3 from yesterday...

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Davy Stockbrokers
11-01-10 None 3.10 9.00

Panmure Gordon
11-01-10 BUY 7.64 4.46 19.70 10.70

Arbuthnot Securities
11-01-10 BUY 5.00 5.82 12.50 10.40