Contractor says housing turnover rose 11% despite “uncertain” economic outlook

Galliford Try has reported a surge in home completions in the second half of 2011.

The housebuilder and contractor said housing sales increased 11% to £359m for the six months to 31 December 2011.

In this morning’s trading statement it said home completions grew 28% to 851 units.

The order book for construction work remained at £1.75bn, the same as a year ago.

The firm said that 62% of its housing landbank was now secured at current market values, compared to 36% in 2009.

Chief executive Greg Fitzgerald said: “While the economic outlook is still uncertain, the board continues to be encouraged by the progress being made in housebuilding and by the resilience of the group’s construction business.”

“While remaining cautious in the short term, the group is confident in its strategy for delivering the objectives of its expansion plan.”