Galliford Try's share price jumps as it raises dividend

Helen Cahill
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Average House Price In The UK Rises 8% In The Year
Property companies were subjected to a sell-off after the EU referendum (Source: Getty)

Housebuilder Galliford Try's share price jumped six per cent this morning after the company said it would be raising its dividend.

In its annual statement for the year ending 30 June, Galliford Try said it would be raising its dividend by 21 per cent to 82p per share.

The housebuilder posted record profits of £1.35bn - an increase of 18 per cent on last year. Revenue at the group increased six per cent to £2.5bn.

Read more: Martin & Co's share price jumps as it hails recovery in the lettings market

The company said there had been a "short-term decline" in the number of visitors to its sites due to the EU referendum, and a small increase in the number of cancellations, but the housebuilder was "encouraged to see a return to growth in sales rates and prices" since then.

Peter Truscott, chief executive of Galliford Try, said: "The decision to leave the European Union inevitably creates a backdrop of uncertainty for the new financial year. However, we have been encouraged by visitor levels and sales rates at Linden Homes through the summer."

UK housebuilders have started to look more confident recently after the sell-off following the the EU referendum.

Last week, both Barratt Developments and Redrow posted strong results, and this morning UK property group Martin & Co has hailed a recovery in the lettings market.

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