The house-building division has seen sales pick up in the autumn after a quieter summer, although not as spectacularly as last year, while thanks to the acquisition of Miller Construction, the construction order book stands at £3.1bn, compared to £1.75bn this time last year.
Not only is the integration of Miller Construction proceeding on plan but also the restructuring costs now look set to be lower than initial estimates while still in line to deliver the planned savings.
Greg Fitzgerald, executive chairman since the surprise resignation of Ian Coull two weeks ago, said: "Steadily improving confidence in the economy supports the planned disciplined growth in both our Housebuilding and Construction divisions. Housing market growth rates have steadied to a more sustainable level and, supported by improved mortgage availability, Linden Homes is on target to meet our expectations. Our Partnerships business continues to enjoy exceptional growth opportunities in the affordable market. Construction, bolstered by the acquisition of Miller Construction in July, is benefiting from an improving market and the stronger presence created by the combination. I am delighted both with the efficient integration process and by the strong contribution already evident from the incoming team. The group is encouraged by the prospects of delivering further growth in line with our strategy."
Mr Fitzgerald has previously announced his intention to leave the company sometime next year. No announcement yet on who is set to succeed him.
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