Housebuilder and contractor reports steady performance over past four months
In a statement to the City this morning, the housebuilder and contractor reported steady trading for the period from 1 July to 8 November 2012, with house sales prices slightly ahead of expectations.
The firm said its housebuilding business had posted 7% growth in sales reserved, contracted or completed to £460m – compared to £430m for the same period last year - following an “encouraging autumn selling season which has been maintained in recent weeks”.
The firm added that on the construction side of the business, 92% of projected revenues for financial year to 30 June 2013 had been secured, with 55% secured for year to 30 June 2014.
It said the firm had a stable £1.6bn order book in line with expectations with a number of “key projects wins” in the period in both the private and public sector.
Greg Fitzgerald, Galliford Try chief executive, said: “Building upon the success of our three year transformational plan we have set out a disciplined growth strategy with a clear focus on improving margins.
“Whilst the economic outlook continues to remain uncertain both our housebuilding and construction divisions have made a good start to the financial year.
“The autumn selling season was encouraging and our construction business won a number of key projects during the period. Overall the Group is well positioned to deliver further profitable growth in the current financial year and beyond.”