Trading statement reports Miller Construction integration ‘substantially complete’
Galliford Try has almost doubled its order book to £3.2 billion following a number of major project wins, according to a trading statement issued today.
In its update on the six months to the end of December, the firm said the “exceptional” pipeline of work compared with a 2013 figure of £1.75 billion.
The statement added that the integration of Miller Construction, which Gallifords acquired last July, was now “substantialy complete ahead of plan”.
However the firm warned its margins continued to be constrained due to the completion of “historical projects”.
Executive chairman Greg Fitzgerald said the six-month period had seen strong work from Gallifords’ housebuilding and construction businesses, with both performing in line with expectations.
“Housing market conditions remain good with growth having moderated to a more normal and sustainable level, and we are optimistic about the prospects for a number of recent and forthcoming sales outlets,” he said.
“Our partnerships business continues to see exceptional prospects for both contracting and development in the affordable market.
“Following the acquisition of Miller Construction our enlarged construction business is benefiting from an improving market.
“We remain confident in the delivery of our strategy of strong and disciplined growth across all of our businesses.”
The firm said it expected to announce results for the half-year on February 18.