Galliford Try has reported improved trading in both its construction and house building markets, in an interim management statement for the year date.
House building reservations and completions are up 10.8% on the same period a year ago at £443m (2009: £400m), of which £308m is for the current financial year to 30 June 2010 (2009: £288m).
Galliford Try said it is on track to deliver anticipated increase in completions during the second half.
It has 60 active selling sites, compared to 54 at 1 July 2009, and cancellation rates are down to 15%, below the historical average.
The landbank is ahead of target at 9,700 plots (7,800 at 1 July 2009)
Construction is “performing to expectations in challenging markets”, following the successful renewal of five-year water frameworks. The order book stands at £1.8 billion (2009: £1.7 billion)
Greg Fitzgerald, chief executive, commented: “We have seen a positive start to 2010 in Housebuilding and recent contract awards in Construction have further underpinned the resilience of our business in challenging markets.
“Although we remain in a period of economic uncertainty, the Group's finances are robust and we remain confident that we are on track to deliver our transformational housebuilding expansion plan.”
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