Galliford Try’s construction order book has more than doubled to £3.5 billion, according to its latest trading update for the year ended 30 June 2015 published this morning.
The housebuilding and construction group said it is expecting record full year results, with profit before tax towards the upper end of analysts' range.
The order book in its Construction division has more than doubled – up from £1.4 billion at 30 June 2014 to £3.5 billion this year. All Galliford Try’s construction business units are continuing to experience an increase in opportunities and 88% of revenue for the new financial year has already been secured (2014: 84%).
Greg Fitzgerald, Executive Chairman, commented:
“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. “
The Group expects to announce its results for the full year on 16 September 2015.
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