Galliford Try is expected to release a strong set of interim results next month after the contractor said trading in all divisions had been “excellent”.
Brokers are forecasting that Galliford Try will report a pre-tax profit of £40-43m for the year ending 30 June, 2007. This would be an increase of up to 32% on last year.
The firm’s housebuilding operation will post record results thanks in part to its acquisition of Chartdale Homes last year. Completions rose 109 to 593 for the six months to 31 December, and landbank more than doubled to 4,818 units. Frank Nelson, Galliford Try’s finance director, said: “We have seen a significant increase to our landbank, and if we obtain planning permission for 10% of that we will be happy.”
However he added that Galliford Try “hadn’t seen the 10-15%” house price inflation that some other housebuilders had reported.
The building division has recently picked up contracts with Marks & Spencer valued at £34m and was performing well in its key sectors of education, commercial, health interiors and leisure.
Its infrastructure division has started remediation work on the Olympic park in east London and won a £79m contract for Europe’s largest windfarm at Whitelee, Scotland.