Galliford Try off to a good start

Building group Galliford Try said that despite an uncertain outlook its housebuilding and construction divisions had made a good start to the financial year.

The firm's housebuilding arm reported 7% growth in sales reserved, contracted or completed, taking sales to £460m in the period from 1st July to 8th November.

The company added that an encouraging autumn selling season had been maintained in recent weeks.

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Sales per outlet was flat at 0.51 per week during the period, compared to the year before, averaging 0.62 during the autumn selling season.

However, the company said sales prices were slightly ahead of expectations.

Galliford's construction arm reported a £1.6bn order book, in line with expectations, noting a number of key projects wins in the period in both the private and public sector.

Chief executive Greg Fitzgerald said that while the economic outlook continued to be uncertain, both the housebuilding and construction divisions had made a good start to the financial year.

"Overall the group is well positioned to deliver further profitable growth in the current financial year and beyond," he said.

MM