Builder Bovis says Brexit impact too early to assess as profits rise

Pretax profits rise 15 per cent to £61.7 million for British builder in first half of year

British housebuilder Bovis Homes said it was too soon to assess the impact of the Brexit vote and a cut in interest rates on the housing market but that it had been pleased with the solid level of interest shown by homebuyers.

The 131-year-old firm, which in recent years has focused on more affluent regions in the south of England, where property prices tend to be higher, said it had made more than 90 per cent of the sales it had planned for the year as of the end of last week.

Demand holding up

Bovis, which saw pretax profits rise 15 per cent to £61.7 million (€71.5 million) in the first half of the year, said it was closely monitoring the situation after the June 23rd referendum but that there were signs that demand was holding up.

"We have been pleased with the resilient level of interest shown by potential homebuyers contacting us," chief executive David Ritchie said. – (Reuters)