Chief executive says housebuilding plan has 鈥渆xceeded expectations鈥�
The number of homes completed by contractor and housebuilder Galliford Try increased by more than 40% in the year to 30 June 2012.
The firm said the number of completed sales had increased from 2,170 in 2011 to 3,039 in 2012, with the average price going up 10% to 拢250,000.
In a trading update from the firm, ahead of full year results on September 19, it said workloads had remained 鈥渟teady鈥� in its construction business, with a pipeline of 拢1.6bn, down 9% on the figure a year previously.
Chief executive Greg Fitzgerald said the business had 鈥渆xceeded the objectives鈥� of its three year plan to ramp up housebuilding at the firm with a 鈥渞ecord鈥� performance in 2012.
The firm saw an 11% increase in housing sales carried forward in to 2013, to 拢273m, and now has 10,500 plots to build on, 81% of which are secured a current market rates.
Fitzgerald said: 鈥淥ur strong financial performance in the period means the group is cash positive at financial year end and, subject to economic conditions, we are well placed to deliver further margin improvement and growth in the new financial year.鈥�
For more up to date information on the house building sector, attend the RESI conference in September. Places are limited, so besure to confirm you place there now. Visit for more information on how to book your place.
No comments yet