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Tue June 22 2021

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Steady ship at Galliford Try

4 Jul 13 Galliford Try reports a stable start to the year, with its house-building business buoyant and its construction arm steady but facing price pressures.

Chief executive Greg Fitzgerald
Chief executive Greg Fitzgerald

In the six months to 30 June, Galliford Try’s housebuilding division has achieved a record landbank of 11,300 plots, up from 10,500 a year earlier.

The £313m year-end sales carried forward position was also a record for the company and up 15% on last year. This was attributed to a combination of improved mortgage availability supported by the Government's Help to Buy scheme and the company’s own strategy of focusing on the south and southeast.

The construction division has focused on winning work that offers a reasonable return. The order book is stable at £1.65bn, pretty much as it has been for the past 12 months, and cash balances are also unchanged.

Chief executive Greg Fitzgerald said: "With modest net debt [less than £20m], a record landbank and year end carry forward position in housebuilding and a stable order book with good visibility of work in construction, we start the year in an encouraging position."

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