Homebuilder Bovis expects profit increases

UK housebuilder Bovis says it expects a significant increase in profit for 2011 following strong earnings growth.The Kent based group expects to record profits of about £31 million for last year, up 68% on 2010.

The firm also expects to report an 8% increase in overall home completions for 2011, to 2,045 units.

It also said forward [...]

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Berkeley profits rise due to high demand in the South East

Homebuilder Berkeley has seen a strong rise in profits to £101 million for the six months to the end of October.This was 64% up on the same period last year, but included a £30 million windfall due to the sale of Berkeley’s share in a project for Imperial College in London.

The firm confirmed strong demand [...]

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UK construction growth weakens in November

Growth in the UK building sector fell back in November after a surprise gain in October new research suggests.The Markit/Cips Construction Purchasing Managers Index, which is based on a monthly survey of building firms, fell to 52.3, down from 53.9 in October. A value above 50 indicates growth.

November saw a rise in new contracts and [...]

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