Construction group says contracting margins are improving in trading update ahead of its AGM
Galliford Try has reported further improved trading for its housing business and improved margins for its construction division, in a trading statement ahead of its annual general meeting.
Galliford Try said sales per outlet at its housing business Linden Homes were up to 0.6 units per week over the five months since its year-end in June, up from 0.48 for the equivalent period last year.
Meanwhile, its contracting business has been 鈥渨inning a strong level of new work at margins reflecting the improving market鈥�. The firm added it 鈥渃ontinues to make good progress inc losing our legacy contracts鈥�.
Executive chairman Greg Fitzgerald (pictured) said he expected cost inflation pressures in both labour and materials to continue to 鈥渕oderate鈥� across both divisions.
The firm鈥檚 regeneration arm Galliford Try Partnerships enjoyed 鈥渟trong demand鈥�, and is working 鈥渟uccessfully鈥� with housing associations to adapt to the slew of policy changes for the affordable housing sector.
Former Taylor Wimpey executive Peter Truscott joined Galliford Try last month as chief executive. Fitzgerald will become non-executive chairman in the New Year.
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