Bovis Homes' new Chief Executive, Greg Fitzgerald, has purchased £1.24 million worth of shares in the company.

Mr Fitzgerald, the former boss of Galliford Try, was announced as the new Chief Executive of Bovis Homes last month.

Having bought 134,369 shares at a price of 926p each, the move is seen as a vote of confidence in the company.

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Earlier this year, the house builder announced it was reorganising the business after it was hit by a £7 million payment set aside to compensate buyers who had found problems with their new homes.

Speaking on his appointment, Mr Fitzgerald said: "Bovis has a great brand, excellent people and a high quality land bank.

"I very much look forward to working with the management team to restore Bovis' position as a leading housebuilder and deliver significantly improved returns to shareholders."

(LM/MH)