Bovis Homes warns it may miss annual targets

07/09/07 - newratings.com

LONDON, July 9 (newratings.com) - Bovis Homes Group Plc (BVS) Monday announced that it may have to cut annual sales targets after the hike in interests rates.

The UK homebuilder said there had been a downturn in the number of people visiting its sites, after the latest interest rate hike. The company said it booked 2,282 new reservations in the first half of this year, only nine more than in the year-ago period. Bovis Homes added that the average price of the homes sold was steady at around £189,000 per unit.