Galliford Try rides high on housing and construction upturn

Aaron Morby 10 years ago
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Galliford Try is surging ahead after a strong autumn selling season at its house building arm and a good crop of orders from construction.

The group’s forward orders are ahead 21% to £585m, with 93% of targeted construction revenue already bagged for the financial year to 30 June.

In an upbeat interim trading statement, chief executive Greg Fitzgerald said: “Both our housebuilding and construction divisions have made an encouraging start to the financial year.

“On the back of an improving housing market and the excellent location of our sites, the autumn selling season has been strong.

“Construction continues to perform impressively in a challenging market albeit with improving levels of opportunities.”

He said the construction pipeline of opportunities continued to rise, with the order book up at £1.7bn against £1.6bn last year.

At the house building business sales prices were up by 1% to 3% since the start of the financial year, with variations between regions.

Fitzgerald said the firm made strong progress buying land increasing its landbank by 24% to a record 13,000 plots. The firm now has 95% of land secured for financial year to 30 June 2015.

“We continue to see good opportunities to acquire land which meet our defined return and hurdle rates,” he added.

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