Bovis Homes' "difficult year"
Bovis is slowing its production rate in 2017 as it admitted to a “difficult” 2016 with operational challenges following a period of considerable growth. The firm has taken a one-off £7 million customer service provision to address a high volume of customer service issues.
Bovis explained that its production processes had not been robust enough to withstand its growth strategy and resource shortages across the sector.
Completion volumes are now expected to be around 10%–15% lower in 2017 than the 3,977 homes of 2016.