Editor's Pick: Markets: The week that was (16-20/11/09)
(BVS.L) Bovis Homes Group PLC Buy/Sell
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| Date/Time | Headline | Source |
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| 18-11-09 | BZN |
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This news article is displayed preformatted as it may contain results tables
Bovis Homes Group PLC Interim Management Statement 18 November 2009 Bovis Homes Group PLC is today issuing its 2009 Interim Management Statement for the period from 1 July in accordance with the UK Listing Authority's Disclosure and Transparency Rules. In the year to 13 November, the Group has sustained its strong current year performance in private home reservations, and has achieved 1,488 private reservations, some 83% ahead of the comparative figure for the same period in 2008 (811 private reservations). When combined with the Group's social housing sales and private sales held at 1 January, the Group has achieved cumulative sales of 2,178 homes (2008: 2,023 homes). Of these, and in line with the Group's previous guidance, the Group anticipates legally completing circa 1,800 homes in 2009 (2008: 1,817 homes), with the balance forming a solid forward sales position for 2010. Of the anticipated legal completions, circa 1,500 are expected to be private homes (2008: 1,223 homes) and circa 300 are expected to be social homes (2008: 594 homes). Following signs of stabilisation in the housing market in the first half of 2009, the Group has seen further signs of an improving market backdrop. External house price indices have suggested incremental pricing improvements during the third quarter helped by low levels of second hand stock for sale and with some regional differences in pricing sentiment emerging. The Group itself has experienced a modest improvement in underlying private sales prices for reservations taken since its June half year together with some regional mix changes. Volumes of mortgage approvals also continue to grow, albeit off a low base and only to levels that would historically be regarded as significantly below average. The mortgage market still remains difficult to access for first-time buyers and other buyers requiring higher loan-to-value multiples. Benefiting from the combination of increased private home sale rates, strong working capital control and tight cost control, the Group has delivered circa £197 million of cash inflow in the period from 1 January 2009 to 13 November 2009 with circa £138 million from trading and a further £59 million from its equity raising in September. As at 13 November, the Group had circa £89 million of net cash in hand. This leaves the Group well positioned to acquire the residential land assets currently being progressed through its acquisitions process. Subject to due diligence on such opportunities, the Group anticipates being able to advise on a number of consented land acquisitions when it reports its full year results for 2009. The Group is required to assess the carrying value of its inventory at each period end. Based on the Group's present view of current and future sales price trends, there is a likelihood that a net provision release will be made at the end of the 2009 financial year. The Group will provide further information on the extent of inventory provision movements at the date of its preliminary results announcement in March 2010, after taking into account market pricing trends between now and then together with any reliable estimates of price movements thereafter. The Group is now delivering good build cost savings for future production through re-specification of materials used and negotiation of new labour contracts to achieve labour savings. This is an encouraging development which will enable the Group to control future costs whilst absorbing increases anticipated from forthcoming regulation changes facing the housebuilding industry. Improvements will also be achieved through replanning where appropriate recognising that the typical Bovis Homes product mix featuring traditional mid market houses already relates well to current market conditions. Looking ahead into 2010, the Group expects to see a continuation of the current market backdrop, with pricing stability and further modest growth in mortgage availability. The Group's focus will be on the commencement of development on existing owned land assets and the acquisition of new residential land assets to grow the output capacity of the Group. With a strong balance sheet and a clear strategy underpinned by both the capacity and ability to acquire new residential land assets which have the potential to achieve at or above investment hurdle rate returns, the Group remains well placed to create value for its shareholders into the future. Conference Call for Analysts and Investors David Ritchie, Chief Executive and Neil Cooper, Group Finance Director of Bovis Homes will host a conference call at 09:45am today, Wednesday 18 November 2009, to discuss the interim trading update. To access the call please dial 020 7138 0820 and quote passcode: 4754255¿. Please dial in 5 minutes prior to the start of the conference call to allow time for registration. A recording of the conference call will be available until midnight on 24 November 2009 on 020 7111 1244, accessible with the same passcode. Certain statements may be forward looking statements. Forward looking statements involve evaluating a number of risks, uncertainties or assumptions that could cause actual results to differ materially from those expressed or implied by those statements. Forward looking statements regarding past trends, results or activities should not be taken as a representation that such trends, results or activities will continue in the future. Undue reliance should not be placed on forward looking statements. Enquiries: David Ritchie, Chief Executive Neil Cooper, Finance Director Bovis Homes Group PLC Tel: 01474 876200 Andrew Best / Emily Hunt Shared Value Limited Tel: 07773 012 971 07798 576 378 More |
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| 16-11-09 | RNS |
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RNS Number : 5993C Bovis Homes Group PLC 16 November 2009 NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).
(1) An issuer making a notification in respect of a transaction relating to
(2) An issuer making a notification in respect of a derivative relating to
(3) An issuer making a notification in respect of options granted to a
director/person discharging managerial responsibilities should complete
(4) An issuer making a notification in respect of a financial instrument
Please complete all relevant boxes in block capital letters. 1. Name of the issuer Bovis Homes Group PLC 2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a); Transactions relate to DR 3.1.4R(1)(a) 3. Name of person discharging managerial responsibilities/director
4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person See section 3 5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest All notifications are in respect of persons named in section 3 6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares Ordinary 50p shares 7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them TD Waterhouse Nominees Limited a/c SMKTNOMS 8 State the nature of the transaction Purchase of shares under Share Incentive Plan 9. Number of shares, debentures or financial instruments relating to shares acquired See section 3 10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage) 0.00% 11. Number of shares, debentures or financial instruments relating to shares disposed n/a 12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) n/a 13. Price per share or value of transaction £4.55876 14. Date and place of transaction 16 November 2009; UK. 15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) See section 3 16. Date issuer informed of transaction 16 November 2009 If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes 17 Date of grant n/a 18. Period during which or date on which it can be exercised
19. Total amount paid (if any) for grant of the option
20. Description of shares or debentures involved (class and number)
21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise
22. Total number of shares or debentures over which options held following notification
23. Any additional information n/a 24. Name of contact and telephone number for queries Julie Pharaoh 01474 876343 Name and signature of duly authorised officer of issuer responsible for making notification Martin Palmer Company Secretary Date of notification 16 November 2009
END This information is provided by RNS The company news service from the London Stock Exchange END
RDSFFDFAMSUSEFF More |
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| 09-11-09 | RNS |
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RNS Number : 2309C Bovis Homes Group PLC 09 November 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached:
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments which may result in
the acquisition of shares already issued to which voting rights are
attached
An acquisition or disposal of instruments with similar economic effect to
qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):___________________________
3. Full name of person(s)
subject to notification
obligation:
4. Full name of shareholder(s)
(if different from 3):
5. Date of transaction and
date on which the threshold is
crossed or reached:
6. Date on which issuer
notified:
7. Threshold(s) that is/are crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
B: Qualifying Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction
Total (A+B+C)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: Ameriprise Financial, Inc., which through intermediate holding companies controls the voting rights of Threadneedle Management Luxembourg S.A. and Threadneedle Asset Management Holdings Ltd, which itself controls the voting rights of Threadneedle Asset Management Ltd, Threadneedle International Ltd and Threadneedle Pensions Ltd Proxy Voting:
12. Date on which proxy holder will cease to hold voting rights: N/A 13. Additional information: Registered Owner
15. Contact telephone name: +44 (0)20 7464 5000 Annex: Notification of major interests in shares
A: Identity of the persons or legal entity subject to the
notification obligation
(including legal form of legal company incorporated in the
(registered office for legal Threadneedle Asset Management
Other useful information (at least legal representative for legal persons)
B: Identity of the notifier, if applicable
(e.g. functional relationship company with the person or legal entity subject to the notification obligation) C: Additional information This information is provided by RNS The company news service from the London Stock Exchange END
HOLUUGRCGUPBGMB More |
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| 30-10-09 | RNS |
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RNS Number : 7288B Bovis Homes Group PLC 30 October 2009 Bovis Homes Group PLC - Voting Rights and Capital In conformity with the FSA's Disclosure and Transparency Rule 5.6.1R and as an update to the announcement made on 30 September 2009, please note that Bovis Homes Group PLC's capital consists of 133,135,874 ordinary 50p shares with voting rights. The increase from 133,135,410 ordinary 50p shares on 30 September 2009 is due to the issue of 464 shares to satisfy the exercise of share options. Bovis Homes Group PLC does not hold any shares in Treasury. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Bovis Homes Group PLC under the FSA's Disclosure and Transparency Rules. This information is provided by RNS The company news service from the London Stock Exchange END
TVRBRBDGISXGGCG More |
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| Date/Time | Subject | Author | ||
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| 03-11-09 | ||||
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It seems when the FTSE sneezes bvs catches cold. If it carries on like this we may see new lows
dyor More | View thread (3) | Respond | Login to Vote up | Login to Vote down |
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| 28-10-09 | ||||
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Anybody know what percentage of their business comes from PFI contracts. The higher this is the less inclined I would be to buy. The threat of having to raise finance to fuel purchase of land portfolios also a concern which is no doubt an issue to be resolved on 18th November. Still nervous about buying albeit the capitulation point may not be far off!!
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| 28-10-09 | ||||
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i think you will see 350 very soon. However, if this is the long overdue shake out of the ridiculously optimistic market rally from march,then you may see even better value if you hold your nerve before piling in.I have just been looking at Bovis interims for this year -nothing too frightening,should be debt free at year end,only looking to sell 1500 units.Near me (south staffs) new build seems to be selling,I dont see any giant mothballed developments.This could be an opportunity,but at what price? My feeling is we won't be revisiting the previous low (what was that 280?) but I would not be surprised to see 320 before christmas.If the whole sector takes a tumble,which seems likely,then there may be better value in Berkeley,but in my view Bovis is not a bad little company.
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| 28-10-09 | ||||
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negative sentiments and few more corrections in the FTSE could bring this share near the 350p mark...
waiting to buy back... but how far the drop is going to be??? More | View thread (5) | Respond | Login to Vote up | Login to Vote down |
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