19th Nov 2013 09:51
LONDON (Alliance News) - Housebuilding and construction group Galliford Try PLC Tuesday said sales reserved contracted or completed has risen from last year's record position by 21% following a strong autumn selling season.
In an interim management statement for the period July 1 to November 18, the company said sales reached GBP585 million, up from GBP485 million a year earlier, of which GBP485 million is for the current financial year to June 30, 2014, up 33% on last year.
Galliford said sales prices had also increased by between 1-3% since the start of the financial year, with variation between regions, while cancellation rates have remained "stable" at 17%.
The company also increased its landbank by 24% to a record 13,000 plots, compared with 10,500 in 2012.
The order book at the end of the period was valued at GBP1.75 billion.
"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," Chief Executive Greg Fitzgerald said in a statement.
"Overall the group is well placed to deliver further profitable growth," he added.
The stock was trading at 1,091.00 pence, down 7.00 pence or 0.6%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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