Contractor and housebuilder says performance underpinned by βstrongβ housing sales
Housebuilder and contractor Galliford Try has said it will meet market expectations of recording profits of around Β£74m when it reports full year profits in September.
In a trading update for the full year to 30 June, the firm said performance in its housebuilding business, Linden Homes, had been βstrongβ, with a record year-end forward sales position of Β£313m, up 15% on 2012.
It said average price achieved rose by 5% on the sale of 2,932 homes, down 3% on 2012. It has a βrecordβ landbank of 11,300 plots, up 8% on the previous year.
Itβs construction business performed βsolidlyβ it claimed, with a stable order book of Β£1.6bn, the same level as at this point last year. It said the business remained βchallengingβ, but that all construction business units had experienced an increase in the number of opportunities.
Greg Fitzgerald, chief executive, said: βWith modest net debt, a record landbank and year end carry forward position in housebuilding and a stable order book with good visibility of work in construction, we start the year in an encouraging position.β
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