Galliford Try announce encouraging trading year results

Order book is up to £3.5Bn, up by more than £2Bn.

Galliford Try has today provided an update on its trading year which ended on 30^th June, with the figures showing another record year.

Many aspects of the business are now in a stronger position than they were at this time last year, with an order book increase of more than £2Bn.

In addition to this, Galliford Try has seen a growth in both revenue and profits, and its cash position of £170M has eclipsed the figure of £151M from 30^th June 2014.

The Company, a FTSE 250 housebuilding and construction group that delivers industry leading performance in constructing a sustainable future, has also reported increased opportunities for all business units and in the same vein as other construction news reported, there is another increase, this time in the percentage of revenue already secured for the new financial year – 88%, which is up from 84% in June 2014.

The Group’s housebuilding arm has also performed well with sales rebounding well after the General Election uncertainty.

Sales rates are up to 0.71 per site each week, which has gone up by almost 50% since the same time last year.

Completions are also on the rise and Galliford Try’s performance on land has been excellent, with the total landbank of 15,750 dwarfing the 2014 number of 13,900.

Profits have also been recorded in the profits and revenue of Galliford Try Partnerships, with a rise of £325M on the contracting order book from the 2014 levels.

Executive Chairman, Greg Fitzgerald, thinks that the outlook for Galliford Try is encouraging.

He said: “It has been another record year for Galliford Try, and we are pleased to see that the momentum across the Group continues, supported by encouraging market trends for all three businesses.

“We are also delighted with the two important acquisitions of Miller Construction and Shepherd Homes, further increasing the Group’s opportunities and capacity.

“Labour availability and cost remain challenging but we continue to manage this effectively working closely with our supply chain.

“Housing market conditions remain positive and the directors take further confidence from the significant increase in the Group’s landbank as well as the contracting order book within Partnerships.

“Following a resilient performance in construction throughout a tough recession, we are pleased to report another profitable year for the division and are encouraged by the outlook, with opportunities growing across multiple sectors.”

Galliford Try expect to be able to announce results for the full year in September.

 

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