13th May 2015 06:41
LONDON (Alliance News) - Housebuilding and construction group Galliford Try PLC on Wednesday said all of its business have performed well in 2015 to date, with good conditions still prevalent in the UK housing market and an improving outlook in the construction sector meaning it expects to meet market expectations for the financial year.
The FTSE 250-listed group said its has GBP982 million in sales reserved, contracted or completed across its Linden Homes and Galliford Try Partnerships housebuilding businesses, with GBP778 million of this to fall within its current financial year to the end of June. That is slightly lower than at the same time a year earlier, when sales were at GBP1 billion and the volume due to fall in the 2014 financial year was GBP780 million.
Since January 1, the Linden Homes business has been selling at a 0.68 per outlet per week rate, up from 0.51 between July and December but slower than the 0.8 rate in 2014, Galliford Try said.
The Linden Homes and Galliford Try Partnerships businesses are both pursuing good land opportunities, the company said, with the housebuilding division's total landbank at 15,000 plots.
In its construction business, the group has an order book of GBP3.3 billion, up from GBP3.2 billion at the end of December, with 83% of its revenue for its next financial year secured.
"We are pleased to report all businesses - Linden Homes, Partnerships and Construction - continue to perform well with favourable market demand against a background of continuing challenges on the labour supply side in all sectors. The group expects to report full year results in line with analysts' consensus," said Greg Fitzgerald, Galliford's executive chairman.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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