Bovis Homes profits for 2005 below forecasts

00:00 11 Jan 2006

Bovis Homes Group has warned the market that full year 2005 profits will be "marginally" below the average of brokers' current forecasts.

The current consensus forecast for Bovis's 2005 full year pretax profit is £129m, compared with £151m last year, according to Thomson One Analytics.

Back in September, brokers cut their forecasts after the housebuilder warned that 2005 profits would be below prior year levels.

Completions for the year were in line with 2004 with an average sales price of approximately £175,500, Bovis said.

It added that its operating margin has remained strong and is expected to be about 23.5% for 2005.