Housebuilder Galliford Try reports record group profit

 
Billy Ehrenberg
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Housebuilding and construction group Galliford Try expected to report group profits for the financial year according to the latest trading statement (Source: Getty)

Housebuilding and construction group Galliford Try is expecting to report group profits for the financial year, according to its latest trading statement.

Profit before tax is expected to be at the upper end of the analysts' current range of £92.8m - £95.2m, and in excess of pre 2008 figures.

Following average sales price-increases for both Bovis Homes and Taylor Wimpy, Galliford's Linden Homes reported a similar rise of 15 per cent, from £266,000 to £305,000.

The group also reported an increase in completions from 2,806 units to 2,968, which helped drive an 11 per cent rise in sales from £313m to £348m.

Greg Fitzgerald, chief executive, said Galliford welcomed the government's "continuing commitment to housing provision" and Bank of England efforts to maintain stability.

"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," he said.

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