House builder Bovis Homes posted an increase of profits of 47.4 per cent to £168.1 million for the 2018 financial year.

Bovis completed the build on 3,579 homes last year and its chief executive reported that the that the company expect to achieve a 4 star HBF customer satisfaction rating for the same period.

Chief executive Greg Fitzgerald said the company had "transformed the quality of their product and customer service" after being hit by build quality issues in its new homes in 2016 and 2017.

The company revealed "significant operational improvements" to change their business and financial performance in 2018.

Fitzgerald said, "The Group has made substantial progress operationally over the past 18 months delivering record profits and a step change in our operating margin.

"We have transformed the quality of our product and customer service and are delighted this is reflected in our 4 star housebuilder status for 2018.

"Looking ahead, we are implementing many initiatives which will continue to build a better Bovis Homes including our new Phoenix housing range with its first completions this Spring, and the development of our new Partnership Housing division.

"We have a strong sales position and excellent land visibility and expect to make further operational and financial progress in 2019."

Operating margins rose by 390 basis points with the company expecting further progress to be made in 2019.

Group revenue rose by 3.2 per cent to £1.0614 billion while the price of the average home sale rose by 0.3 per cent to £273,200.

Bovis are currently selling homes on six different sites in Gloucestershire, at Furlong Rise in Prestbury, Keble Fields in Fairford, three separate developments at Coopers Edge and the Avenue in Moreton-in-Marsh.