Galliford Try stays on course

In a trading update for the six months to 31 December 2011, Galliford Try said that its construction order book had slid 8.6% to £1,6bn, but this had been expected.

The housebuilding division has seen a 59% increase in total completions to a record 1,352 units, up from 851 in 2010.

In the construction division, 100% of projected revenue for current financial year (to 30 June) has been secured, and 62% of next year’s projected work is also on the books.

The mix of 41% of the construction order book in regulated sector, 45% in public and 14% in the private sector was described as “a quality spread of future revenues”.

Chief executive Greg Fitzgerald said: "The board has been encouraged by the progress in housebuilding as our southern biased business performed strongly despite the general economic uncertainty. The spread of long term work in the group's construction business is underpinning its resilience in challenging market conditions. The group therefore remains on track to meet its expectations for the financial year."

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