That was due to the company slowing down production to bolster standards and repair its tarnished reputation after the previous regime offered “bribes” to would-be buyers to move into unfinished homes to meet City targets. Bovis is ahead of plan, with £145 million of net cash at the end of last year.
“The improvement in the quality is tremendous,” Fitzgerald said. “The morale has improved and we’ve got our mojo back.”
The former Galliford Try boss is now aiming to bring annual completions up to 4000 a year by 2020 and improve margins.
