Bovis Homes' top performance

Bovis Homes has sustained its position at the top of the housebuilders' performance ladder, achieving an operating margin of 23.8% for the second year running.

Today's financial results for the 12 months to 31 December 2002 show turnover at £460m (£360m) and pre-tax profit higher at £105m (£80m).

The average house price of £174,000 was 20% higher than the previous year. Construction costs climbed 7%, including specification upgrades and increases in taxes relating to aggregates, landfill and climate change.