Contractor makes positive interim statement but says warns mortgage availability and public sector cuts make future uncertain

Contractor Galliford Try has announced in an interim statement to the City that its housing business has grown and its house prices are 鈥渟lightly above expectations鈥�.

Sales reserved, contracted or completed from 1 July to 4 November this year totaled 拢312m, up 14% from the same period last year.

It said that prices had been 鈥渟lightly above expectations鈥� but cautioned that mortgage availability 鈥渞emains a serious constraint鈥�.

On construction, Galliford Try has an order book of 拢1.75bn, the same figure as a year ago.

It warned that the impact of the government spending cuts on the company were not yet know.

鈥淭he economic outlook remains uncertain and the full implications of the Government鈥檚 comprehensive spending review on both the Group鈥檚 housebuilding and construction activities are not yet clear,鈥� the statement said.

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