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Bovis Homes Group profit misses consensus by 27.0% in H1

Bovis Homes Group PLC said its first-half normalized net income came to 25 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 34 pence per share.

EPS increased 9.1% year over year from 23 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £33.6 million, an increase of 9.0% from £30.9 million in the prior-year period.

Total revenue rose 8.9% on an annual basis to £350.7 million from £322.1 million, and total operating expenses grew 9.4% year over year to £296.4 million from £270.9 million.

Reported net income increased 11.4% year over year to £43.0 million, or 32 pence per share, from £38.6 million, or 29 pence per share.