Sherford (and Cranbrook) slightly on the rocks?

One of the firms involved in building the huge new town at Sherford near Plymouth [and Cranbrook] has issued a profit warning causing concern that the construction sector is in decline

Bovis Homes, one of Britain’s biggest housebuilders, is part of the Sherford Consortium alongside Linden Homes, and Taylor Woodrow [as in Cranbrook].

… The announcement, which preceded a 4.8 per cent fall in the Bovis Homes share price, was seen by analysts as a blow for the construction sector as it heads into 2017.

Bovis Homes denied the slowdown was due to any Brexit effect following the UK’s referendum decision to leave the EU.

… But completions in the second half of 2016 fell by one per cent to two per cent, year-on-year.

Meanwhile, GDP data has shown that construction generally is now in a “technical recession” with output down 1.1 per cent in Q3 2016. … “

http://www.plymouthherald.co.uk/construction-industry-jitters-after-sherford-firm-issues-profit-warning/story-30018069-detail/story.html

One thought on “Sherford (and Cranbrook) slightly on the rocks?

  1. I cannot seriously believe that Bovis is in real financial trouble. They just had a few delays on a finishing a few homes, and therefore missed their target. If I had shares in Bovis (which I don’t) I wouldn’t be thinking that Bovis was about to go bust and selling them.

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