Bovis sets aside another £3.5m to fix faulty homes

Grant Prior 8 years ago
Share

Bovis Homes has set aside another £3.5m to fix faulty homes following a string of complaints about build quality from buyers.

Ongoing repair work at a Bovis Homes development
Ongoing repair work at a Bovis Homes development

The firm spent £7m on “legacy issues” last year.

And Bovis is making another provision during the first half of this year following a review of the business by new CEO Greg Fitzgerald.

In a trading update to the City this morning Bovis said: “We have made good progress addressing a high level of customer issues in the first half.

“Following the CEO’s review of the business, the Group has taken a further £3.5m of provision in the first half, taking the total one-off costs related to these legacy issues to £10.5m, of which £7.0m was provided for in 2016.

“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.”

But homeowners are still contacting the Enquirer with complaints about their Bovis properties.

One said: “I moved in six months ago and I’m still battling to get things fixed.

“It was all promised to be sorted within six weeks but has been rumbling on for months.”

Bovis has slowed its rate of new construction by 10-15% as it “re-sets” the business.

Fitzgerald said: “The trading performance in the first half of our financial year is in-line with management expectations.

“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.”

 

Latest news

80 energy projects unlocked as Ofgem backs grid expansion

£24bn energy networks deal gets green light from regulator
18 hours ago

New boss at Eric Wright Civil Engineering

Gavin Hulme takes top job as Diane Bourne moves to group role
3 hours ago

Pinewood submits £1bn data centre plan

Studio giant adds green and learning spaces to tech hub blueprint
19 hours ago

Record results after TClarke goes private

Britain's biggest M&E contractor flourishes after de-listing
19 hours ago

Dalkia lands £200m nuclear maintenance deal

1,000 nuclear FM staff to join M&E contractor
18 hours ago

Construction comeback to outpace wider economy

Arcadis forecast fueled by spending review optimism
2 days ago

First steel goes up on giant car battery site

Severfield gets to work on McAlpine Somerset site
2 days ago

Permasteelisa wins cladding deal on Bovis city tower

Facade specialist lands package at 60 Gracechurch Street
18 hours ago

Fox buys recycled asphalt specialist Fisher

Acquisition adds major recycled asphalt capacity in north west
1 day ago

Major Building Safety Regulator shake-up to end tower delays

HSE stripped of control and top fire chiefs brought in to fast-track stalled schemes
2 days ago

Hinkley trio sign Sizewell civils deal

Balfour,Bouygues and Laing O'Rourke form Civil Works Alliance for new power station
2 days ago

£3.9bn data centre plan for Ravenscraig steelworks

Green energy to power massive new steel to silicon AI campus
2 days ago

Breakthrough on HS2’s second longest tunnel

8.4 mile Northolt to Old Oak Common drive completes
2 days ago

Neilcott on fast-track to debt-free employee ownership

£22.5m loan nearly paid down after big profit year
2 days ago

TfL kicks off race for £700m Tube station upgrade

South Kensington and Elephant & Castle top the pipeline list
2 days ago

Corbyn Plant Hire fleet goes under the hammer

Kit to be sold off by sister firm to collapsed groundworks contractor
2 days ago

Government wields procurement stick on late payment

New rules would block slow payers from bidding on big public jobs
5 days ago

Hercules buys power line labour firm for £15.7m

Labour supply specialist snaps up Advantage NRG to tap booming electricity upgrade market
5 days ago

Universal bid to fast-track planning for theme park

Entertainment giant eyes 2026 start at Bedford site
5 days ago

Developer Breck to transform former Ibstock brick factory

Ravenhead works to become 300-home development
5 days ago

SP Energy Networks awards contracts worth £1.4bn

First round of awards under £5.4bn national electricity grid upgrade programme
6 days ago

Travelodge to convert Liverpool Street office building

Office-to-hotel conversion in City of London
5 days ago

Plans lodged for 1m sq ft City of London office

Barbican landmark building will reuse 40% of existing structure
5 days ago

PTSG acquires roofing specialist HD Sharman Group

Premier Technical Services Group expands building maintenance division
5 days ago

Balfour Beatty lands £833m carbon capture power plant job

Work to start later this year on Teesside carbon capture gas-fired power station
6 days ago

Svella agrees deal to save Cubby Construction

Solvent purchase set to save 214 jobs and protect supply chain
6 days ago

J Coffey holds line on margins despite £52m revenue slide

Pre-tax profit down 14% but firm eyes strong pipeline to bounce back
6 days ago

Consultants called up for £2.3bn NHS SBS panel reboot

Market asked for views ahead of next-gen procurement rollout
6 days ago

Hochtief launches new UK data centre division

German business model to be introduced for UK construction
7 days ago

Construction skills body launches with 100,000 worker target

Industry to work closer with Jobcentres to find new talent
6 days ago