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Galliford Try homes sales rise 21% to new record

Galliford Try has reported a 21 per cent year-on-year increase in sales in its housebuilding arm to a record £585m for the period from July 2013.

In its interim management statement Galliford Try chief executive Greg Fitzgerald said the group was making good progress to achieve its growth strategy and was focused on improving margins.

He added: “On the back of an improving housing market and the excellent location of our sites, the autumn selling season has been strong.” 

For the period from 1 July to 18 November, Galliford Try said its sales volume increased by 21 per cent to £585m compared with £485m in same period of 2012, with sales prices up by between 1 and 3 per cent.

In the construction arm of the business, Galliford Try reported an order book at £1.75bn, compared with £1.6bn in 2012.

The company increased its landbank by 24 per cent in the period to 13,000 plots, up from 10,500 plots in November 2012, with 95 per cent of its land secured for the year to 30 June 2015.

Mr Fitzgerald said construction “continues to perform impressively in a challenging market” and that Galliford Try was managing build cost inflation and supply chain challenges.

Galliford Try posted record profits for the year to 30 June 2013 at £74.1m, up 17 per cent on 2012.

The group’s average net debt increased to £158m from £134m last year due to the acquisition of land.

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