Eadwig
10 Jan 2017
Re: Bovis CEO Resigns pearlsasinger,It is scary when CEO and/or CFOs of PLCs resign in an unscheduled manner. However, I think this is unlikely to be due to anything that has been hidden, but a repeated failure to execute at the same sort of levels as comparable companies and then the latest calamity on top.Strange that I posted on a board last night that I abandoned trades in Bovis until such a time as their was a change of management at the highest level. I'd like to see a new CEO, and then further 'resignations' followed by new appointments, possibly from outside the company.There has clearly been something wrong at Bovis for a few years when they repeatedly fell short of high expectations in a booming property market, resulting in all those profit announcements that caused falls in the share price.Compare the last 5 years of the Bovis chart against PSN, BDEV,
pearlsasinger
09 Jan 2017
Re: Bovis CEO Resigns I suspect there will befurther bad news here.Resignations "with immediate effect"always scare me
Actinidia
09 Jan 2017
Re: Bovis CEO Resigns Shares up 2.5%, so the market likes it. Fingers crossed.
Hydrogen Economy
09 Jan 2017
Bovis CEO Resigns A pretty terse RNS for departure of CEO of 18 years. No reason given but have to suspect that the recent unscheduled annoucement of shortfall of Completions was a factor, probably a final straw.Short term likely to suffer from the uncertainty - longer term picking the right new CEO will be positive and maybe at current prices this puts BVS into play for one of the bigger players looking to pick up land bank and volume.H29 January 2017 Bovis Homes Group PLC Directorate Change The Board of Bovis Homes Group PLC announces today that David Ritchie, Chief Executive, has notified the Group of his intention to leave the Company. David will step down as Chief Executive of the Group and as a Board Director with immediate effect but will remain with the Group until 28 February 2017 to assist with the process of transition.The Board has appointed Earl Sibley, the Group's Finance Director, as Interim Chief Executive with immediate effect and will immediately initiate a process to appoint a permanent successor which is expected to take several months.Commenting on his decision to leave, David said:"It has been a privilege to serve Bovis Homes as its Chief Executive over the last eight years as the Group has doubled in size and delivered record profits. I believe now is the right time for someone new to lead the Group into its next phase of development. I have spent over 18 years working for this great company and I wish Bovis Homes every success in the future."Ian Tyler, Chairman, commented:"On behalf of the Company, I would like to thank David for his major contribution to Bovis Homes over his 14 years on the Board initially as Group Finance Director, then Group Managing Director and as Chief Executive since 2008. During his time as Chief Executive, the Group successfully navigated the housing market recession and has grown rapidly since 2009. David was instrumental in preparing the Group for growth and then implementing the new strategy. We wish David the very best for the future and every success in his next venture."
dazedandconfused
28 Dec 2016
Re: Trading update Just to be clear, i'd heard similar quality/timing stories in this region during 2016 not just at Xmas, and had sold out my SIPP holdings in January and May in this housebuilder, and switched into two others. I suspect one problem is sufficient, decent artisans to do all the final fixings (when your salary gets 20% less Euros > home).
dazedandconfused
28 Dec 2016
Re: Trading update As to reasons why, it probably means something like this, in our County paper this Xmas:[link] typical attempt to get the numbers up at all costs, because your management annual bonus depends on it!
Source
28 Dec 2016
Re: Trading update Yep that's my read also Pendil. i.e. Management have been quite rubbish, but its end markets are still very strong (indeed even Bovis avg selling prices were up 10%, which is encouraging when it delivers the delayed sales next month).I think the management need to be changed and shareholder return prioritised properly - Compared to the great returns all other housebuilders Bovis needs to be keeping up with its competitions performance much better -- OR it should be bought out by them.(at only a PE of 8, a yield of around 6% and is valued around its book value --- it certainly would make a very good buyout for a proper housebuilder) IMHO ...Regards,Source.
pendil
28 Dec 2016
Re: Trading update Main negative seems to be "slower than expected build production ... during December". Any idea what "build production" means? Does it just mean they didn't build the houses they expected to. i.e. management incompetence rather than any softening in demand?
Hydrogen Economy
10 Nov 2016
Trading update Bovis has tended to underperform most of the sector and not the strongest player, and yet is still reporting plenty of positive data and outlook. Main negative -Cost moderating but still increasing. Some key points :-"Another year of both growth in volume and increase in average sales price is expected to deliver record revenues for the Group in 2016. As a result, we are on track to deliver increased profit and a further improvement in return on capital employed, in line with our expectations. The backdrop for housebuilding in the UK continues to be positive with demand for new homes running ahead of housing supply. Political support remains in place as evidenced by the improved planning regime and the continuation of the Help to Buy equity loan scheme. At the same time unemployment continues to be low and the mortgage market remains competitive. Aside from the weeks immediately after the EU referendum, the Group's sales during the year to date have followed a normal seasonal pattern.. We have reservations in place to achieve over 5% growth in legal completion volume in the year and sales prices remain robust as we continue to sell homes at prices in line with our expectations. The average sales price for 2016 is expected to be around 10% ahead of last year, driven by improving mix and increased underlying market pricing. The availability of labour remains a constraint on activity across the sector and whilst our sub-contract cost inflation rate has moderated since the second half of 2015, we continue to see market cost increases. Our balance sheet remains robust and we anticipate a net cash position at the end of the year.
Stellaria media
20 Sep 2016
oops wrong board. I blame small children for distracting
Stellaria media
20 Sep 2016
good news at last some good news to claw the SP back to something close to what I bought in for. Let's hope that the momentum continues as the market starts to appreciate the potential of the company.
Eadwig
18 Aug 2016
Re: Why the fall? JP Morgan Cazenove today reaffirms its overweight investment rating on Bovis Homes Group PLC (LON:BVS) and cut its price target to 1000p (from 1200p).JP Morgan Cazenove today reaffirms its neutral investment rating on Barratt Developments PLC (LON:BDEV) and cut its price target to 470p (from 665p).JP Morgan Cazenove today upgrades its investment rating on Persimmon PLC (LON
SN) to overweight (from underweight) and cut its price target to 1950p (from 2100p).Canaccord Genuity today reaffirms its buy investment rating on Bovis Homes Group PLC (LON:BVS) and raised its price target to 895p (from 800p).
LoadsaDosh2
18 Aug 2016
Re: Why the fall? All housebuilders are reporting sales ahead of last year though?
Hardcore Uproar
15 Aug 2016
Re: Why the fall? Let´s not forget sales of houses are in recession levels, nothing near what they were in 2007. There is hardly any supply with just a few more interested parties.
dazedandconfused
15 Aug 2016
Re: Why the fall? I have the same problem (not understanding myself); i think it's an age thing.. 
