Bovis to downsize targets after housebuilding review

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UK housebuilder Bovis Homes Group PLC (LON:BVS) said on Thursday that it expects a "significant step up in profitability" in the first half after completing more homes. “clear progress” on its.

Bovis said in a statement on Tuesday that negotiations had broken down after it followed up an initial approach with a formal offer on May 8 of 950 million pounds in its own shares as well as the.

Until recently Bovis Homes (BVS) was the bad boy in the housebuilding sector, consistently underperforming and finally issuing a profit warning early this year, shortly after David Ritchie. notably.

Bovis buyers who became victims of the rush to build: Homeowners left with wonky walls, unfinished drives and no power. Buyers have flooded internet forums complaining of problems with their homes

Greg Fitzgerald is the former boss of Galliford Try, which has been in talks with Bovis over a takeover after its initial bid for the business, an all-shares offer worth 1.2bn, was knocked back.

Just three days before, they revised their target price on the builder’s shares from 771.0p to 1,041p. They told clients: "we believe the UK housebuilding sector is in rude health.

(Reuters) – News of a 950 million pounds bid for the residential units of builder Galliford Try plc drove shares in the company 8% higher on Tuesday even as the bidder Bovis Homes said the two sides were no longer in talks. Galliford on Saturday said it had rejected a bid from Bovis to buy its.

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