Belfast Telegraph

Bovis Homes boss Greg Fitzgerald buys £2m more shares

The boss of Bovis Homes has snapped up nearly £2 million worth of shares in the group in his latest vote of confidence in the troubled housebuilder.

Kent-based Bovis revealed recently appointed chief executive Greg Fitzgerald bought 215,500 shares at a price of £9.20 a share on Tuesday.

It comes after Mr Fitzgerald and his wife splashed out £1.4 million on Bovis shares earlier this year.

The group also confirmed that Emma Sibley, a "person closely associated" with group finance director Earl Sibley, bought £49,871 worth of shares on Tuesday.

Mr Fitzgerald took on the top job in April to lead a recovery at the group after it saw two aborted takeover attempts from rivals Galliford Try and Redrow launched in the wake of profit warnings.

Former chief executive David Ritchie stepped down in January after eight years in the role as the group was rocked by customer complaints over the poor quality of its homes, which were sold unfinished and were plagued by electrical and plumbing faults.

Mr Fitzgerald is the former boss at Galliford, having spent 30 years of his career at the group.

Shares in Bovis have surged by nearly 10% since his appointment at the helm.

The firm said last month it was making ''clear progress'' in addressing customer complaints over the poor quality of its properties.

In the update, it added that trading in the first four months of the year was in line with expectations, with customer interest strong and demand for homes ''robust'' across all regions, with modest house price inflation seen in the period.

Popular

From Belfast Telegraph