Contractor and housebuilder says performance underpinned by 鈥渟trong鈥� housing sales

Housebuilder and contractor Galliford Try has said it will meet market expectations of recording profits of around 拢74m when it reports full year profits in September.

In a trading update for the full year to 30 June, the firm said performance in its housebuilding business, Linden Homes, had been 鈥渟trong鈥�, with a record year-end forward sales position of 拢313m, up 15% on 2012.

It said average price achieved rose by 5% on the sale of 2,932 homes, down 3% on 2012. It has a 鈥渞ecord鈥� landbank of 11,300 plots, up 8% on the previous year.

It鈥檚 construction business performed 鈥渟olidly鈥� it claimed, with a stable order book of 拢1.6bn, the same level as at this point last year. It said the business remained 鈥渃hallenging鈥�, but that all construction business units had experienced an increase in the number of opportunities.

Greg Fitzgerald, chief executive, said: 鈥淲ith modest net debt, 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.鈥�

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