Market report: Housebuilders hit by Bovis gloom
Shares in housebuilders are dragged down by disappointing results from Bovis Homes (BVS) which reports a decline in pre-tax profit, operating margins and return on capital employed. The company is targeting 10% to 15% fewer property completions in 2017 while it tries to improve operations and customer service.Bovis' shares slump 9.3% to 762.75p with stockbroker Davy calling 2016 'a year to forget'
