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06/07/2017

Bovis Homes Sets Aside £3.5m To Cover Build Quality Issues

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Bovis Homes has set aside a further £3.5 million to address housing build quality issues.

Last year, the company spent £7m to repair poorly built new homes following a string of complaints from customers.

In a trading update today, 06 July, the Group revealed it has set aside an additional £3.5m to tackle build quality issues, setting total legacy costs to £10.5m.

It is understood the problems included serious electrical and plumbing faults and nails sticking out of walls.
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In it's update, Bovis said: "This further provision will ensure we are fully resourced to complete the works identified as swiftly as possible whilst at the same time delivering the appropriate high level of service to our new customers.

"We are confident that all legacy issues are now identified and that where possible these issues will be fully dealt with and the related costs incurred during this financial year."

Greg Fitzgerald, Group Chief Executive Officer, said: "In the past 11 weeks I have spent a good amount of time with each of our operating regions, visited 85 sites and met the vast majority of our people.

"We continue to identify and implement operational improvements and I am very confident we can deliver a successful turnaround, returning Bovis Homes to being a leading UK housebuilder.

"I look forward to providing an update on the Group's strategy with the presentation of our half year results in September."

(LM)

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