Profits crumble at Bovis Homes

Profits at Bovis Homes tumbled last year after the housebuilder was stung by a string of costs that included compensation payouts for some homes.

The group yesterday posted a 26 per cent fall in pre-tax profit to £114 million in 2017 as it booked exceptional items totalling £10.3m. This included £3.5m in customer care provision and some £4m in restructuring costs.