Galliford Try to hit top end of profit forecasts

Grant Prior 10 years ago
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Galliford Try is expecting to hit the top end of analysts’ profit forecasts as its hybrid model of housebuilding and contracting continues to pay off.

The firm confirmed in a trading statement today that “profit before tax is expected to be at the upper end of the analysts’ current range of £92.8 – £95.2m” for the full year to June 30.

Galliford Try will unveil its full results in September as revenue across the company recovers to above pre-recession levels.

Housebuilding is gunning along with an average sales price at Linden Homes up 15% to £305,000 while Galliford now has a record land bank of 13,900 plots.

Construction has an improved order book of £1.4bn and strong money management sees cash-in-the bank up to £150m from £132m.

Chief Executive Greg Fitzgerald said: “The market continues to be good across all of our regions.

“We are pleased to have finished the year strongly and expect to deliver another record profit.

“With a solid balance sheet, minimal debt, a record landbank in housebuilding and excellent visibility of work in construction, we are starting the new financial year in a strong position, whilst recognising that challenges remain around the supply chain and converting outline planning permission into detailed consents.”

 

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