Housebuilder, Bovis Homes has completed its acquisition of Galliford Try’s Linden Homes and Partnerships and Regeneration businesses and announced a new name for the enlarged housebuilder. The £1.1 billion deal was agreed in November, which consists of a combination of shares in Bovis and cash, and the transfer to Bovis of GT’s £100 million debt
This month Bovis Homes has agreed to buy Galliford Try’s Linden Homes and Partnerships and Regeneration businesses in a deal worth £1.075 billion comprising a combination of shares in Bovis and cash. Bovis reported that the deal creates a top five national housebuilder with the capacity to deliver more than 12,000 homes per year over
The potential merger of Bovis Homes and Galliford Try’s housebuilding businesses goes through it would create the UK’s fourth largest housebuilder, says Stephen Teagle, chief executive of Galliford Try Partnerships and Regeneration. Speaking to Housebuilder, Teagle said the possible sale of GT’s housebuilding and partnerships and regeneration arms to Bovis would create a “sector leading regeneration
Bovis Homes is heading for a “record” year of profits with another controlled period end, it reported in a trading update on January16th ahead of the release of its annual results on February 28. The housebuilder said that during the year to 31 December 2018, it delivered 3,759 new homes in total, rising 3% against
Bovis Homes and McCarthy & Stone reported to the city this month, with Bovis reporting a “strong” half year performance and controlled volume growth, and McStone reflecting on a “tough” financial year. During its half year to June 30 2018, Bovis’ pre-tax profit improved by 41% to £60.2 million against H1 2017, “ahead of expectations”.
Persimmon and Bovis Homes report steady performances ahead of their half year results. During the period from 1st January to 30th June 2018, Persimmon’s legal completions increased 3.6% to 8,072 homes against the equivalent period last year. Its average selling price also rose 1.2% to around £215,800. The volume housebuilder’s housing revenues for the first
Bovis Homes has appointed Greg Fitzgerald as its new Chief Executive whilst rejecting Galliford Try’s merger proposal. Fitzgerald took up his post on April 18 following the departure of David Ritchie in January, he is the former CEO and Chairman of Galliford Try. He spent more than 30 years at the housebuilding and construction business.
Bovis has confirmed that it has received merger proposals from both Galliford Try and Redrow. The firm has rejected both saying that “neither reflected the underlying value of the Bovis business”, but confirmed that talks are continuing with Galliford Try. Redrow proposed a share and cash deal which in aggregate amounted to £8.14 per Bovis
Bovis Homes remains on track to deliver the growth it plans for 2016, it reported yesterday, while Essex-based housebuilder Hill has revealed a five year growth strategy. Reporting on 2016 so far Bovis said that the housing market continued to be positive, with weekly sales rates improving in recent weeks to move in line with
Persimmon has seen robust trading for the year to date even though they continue to experience planning delays. During the period from January 1 2016 to the present day, the volume housebuilder has achieved a 6% rise in their weekly private sales rate per site against the equivalent period in 2015. This robust sales performance