Chief executive says housebuilding plan has “exceeded expectations”
The number of homes completed by contractor and housebuilder Galliford Try increased by more than 40% in the year to 30 June 2012.
The firm said the number of completed sales had increased from 2,170 in 2011 to 3,039 in 2012, with the average price going up 10% to £250,000.
In a trading update from the firm, ahead of full year results on September 19, it said workloads had remained “steady” in its construction business, with a pipeline of £1.6bn, down 9% on the figure a year previously.
Chief executive Greg Fitzgerald said the business had “exceeded the objectives” of its three year plan to ramp up housebuilding at the firm with a “record” performance in 2012.
The firm saw an 11% increase in housing sales carried forward in to 2013, to £273m, and now has 10,500 plots to build on, 81% of which are secured a current market rates.
Fitzgerald said: “Our strong financial performance in the period means the group is cash positive at financial year end and, subject to economic conditions, we are well placed to deliver further margin improvement and growth in the new financial year.”
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