Pre-tax profit before exceptional and one-off items fell to 124.3 million pounds in 2017, in a year when Bovis lost its boss after customer complaints over poor workmanship at some of its properties.

New Chief Executive Greg Fitzgerald has been turning the business around since his appointment and promised a better performance this year.

"In 2018, we will deliver a controlled increase in volume, continue to build upon our high level of customer service, drive profitability, and complete our balance sheet optimisation," he said.

(Reporting by Costas Pitas; editing by Kate Holton)