New Bovis Homes boss Greg Fitzgerald is planning a revamp of the business which will be unveiled in September.
Chief Executive Fitzgerald is currently on a tour of the firm’s 95 active sites and holding talks with staff at all levels.
Bovis confirmed in a trading statement today that “Greg Fitzgerald will conclude a strategic and structural review of the Group over the coming months and will provide an update with the half year results announcement which has been re-scheduled for 7 September 2017.”
Former Galliford Try chairman Fitzgerald took over the helm at Bovis last month.
His appointment followed a turbulent few months for the firm which saw profits dip and concerns raised about build quality.
Bovis also rejected merger approaches from Redrow and Galliford Try which led to one-off advisory fees of £2.8m.
The firm’s building programme has been scaled back this year by 10-15% with plans to return to normal levels in 2018.
The trading statement added: “As highlighted in February, the Group’s first half profitability will be impacted by increased build costs within our cost base brought into the year and an increased level of investment across the business to address issues faced in 2016.”
Fitzgerald said: “I am confident that Bovis will return to being a leading UK housebuilder and excited by the challenge ahead.
“The clear focus for 2017 is on improving our production processes and efficiency thereby ensuring we deliver quality homes to our customers.
“By the end of June I will have visited all our developments and met the majority of our people; we have already identified improvements to streamline the business, provide greater focus and be more agile.”
from Construction Enquirer http://www.constructionenquirer.com/2017/05/02/bovis-boss-greg-fitzgerald-set-to-streamline-business/
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