In its latest trading update, Galliford Try has announced that its construction order book has increased to £3.7 billion (2014: £3.2 billion) in an improving market.
The update on trading for the half year ended 31 December 2015 from the housebuilding and construction group said that its construction division had secured 98% of projected revenue for the current financial year with 66% for the year 30 June 2017 (31 December 2014: 98% and 67% respectively).
Galliford Try said it was continuing to make progress in concluding legacy construction contracts whilst seeing improved margins on new work.
Peter Truscott, Chief Executive, commented:
“I am delighted to report that all of our businesses continued to trade well in the first half of the year to 30 June 2016. Market conditions have remained positive, with build cost increases stabilised to a manageable level."
"In Linden Homes we have improved our margins and increased outlet numbers and unit sales per outlet. In Partnerships we continue to make progress in line with our strategy, and are considering whether we can expedite that growth. In Construction our order book remains strong, with good visibility on projected revenue for the rest of this year and next."
"It is now two years since Galliford Try adopted its clear plan for disciplined growth to 2018. In my first few months as CEO, I am happy that these are the right medium term targets. I am working with each of the businesses to ensure we achieve these, and to consider the longer term aims."
"As we look ahead to the second half of the year, we are in a strong position to deliver results in line with our expectations.”
The Group expects to announce its results for the half year on 25 February 2016.
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