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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Bovis - Shares make strong recovery

October 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • BVS
  • Price:
  • 918p
Our Buy tip two issues ago at 660p looks well-timed with the shares rallying with the house building sector, helped by strong results elsewhere (notably Persimmon).First half results for period ending 30 June were bang in line with revenues, pretax profit and eps up 18%, 15% and 14% to £413m, £61.7m and 36.5p, respectively. Net debt fell from £59m to £8m. Sales price inflation and cost inflation were broadly aligned so gross margin was unchanged at 24.3%. However, operating margin rose from 14.7% to 15.5% due to better overhead utilisation.Bovis achieved 5% growth in legal completions to 1,601 homes (H1 ’15: 1,525) while the average sales price increased 14% to £254,000.In the first h ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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