Bovis Homes' first-half margin going strong at 25.6%

Bovis Homes hit an operating margin of 25.6% during the first half of the year, as the housebuilder's pre-tax profit roared ahead to £67m.
In the six months to 30 June, turnover was £270m, a rise of £80m on the same period last year.
Malcolm Harris, chief executive, said: "Based on current market conditions, we are confident of the prospects for the group for the full year."
Bovis Homes ended the period with borrowings of under £6m, representing a gearing (the ratio of debts to assets) of just 1.1%.
The average sales price per unit increased to £207,000 compared with £191,000 for the same period last year - an 8.2% rise.
The size of the houses completed was trimmed back by 1.8%, with the result that the average sales price per m2 increased by 10.1%.