Trading Statement

RNS Number : 9795X

Galliford Try PLC

12 May 2016

 

GALLIFORD TRY PLC

TRADING UPDATE

THURSDAY 12 MAY 2016

Galliford Try plc, the housebuilding and construction group, today issues its trading update for the period 1 January to 11 May 2016.

Peter Truscott, Chief Executive:

"The Group is making good progress against its strategy to 2018 of disciplined and sustainable growth in all three businesses. 

Linden Homes has enjoyed very good sales rates since the beginning of the calendar year and is confident of achieving its targets for the current period and reporting a strong carry forward position at year end. 

Galliford Try Partnerships continues to see exciting opportunities to grow both mixed tenure and contracting, although, as previously indicated, contracting turnover growth has been slowed in the current year by the effect of last year's rent reforms.  We are progressing our plans for regional expansion of the business.

Construction is enjoying a good level of new opportunities, whilst continuing to work through outstanding legacy contracts.

The Group's businesses continue to trade in accordance with plan and we anticipate reporting full year results in line with management's expectations, with all three businesses encouraged by future opportunities."

Linden Homes

·      £1,086 million of sales reserved, contracted or completed, up by 21% over last year, of which £820 million is for the current financial year to 30 June 2016 (2015: £897 million and £721 million, respectively).

·      Since 1 January 2016 Linden Homes has been selling at a rate of 0.72 per outlet per week (2015: 0.68).

·      Landbank of 12,400 plots (of 15,100 total Group landbank) with land market continuing to be positive (2015: 13,200 and 15,000, respectively).  All plots secured for 2017 together with 77% of plots secured for 2018.

Galliford Try Partnerships

·      Contracting order book of £0.85 billion (31 December 2015: £0.65 billion).

·      £96 million of sales reserved, contracted or completed of which £61 million is for the current financial year to 30 June 2016 (2015: £85 million and £57 million, respectively).

·      Landbank of 2,700 plots (2015: 1,800).

Construction

·      Order book of £3.6 billion (31 December 2015: £3.3 billion).

·      76% of next year's revenue secured (2015: 83%).

·      We continue to maintain our focus on risk management and cash.

Conference call

A conference call for Analysts and Investors will be held at 08:30 am today (UK time)

Participant telephone number: [phone]

Participant passcode: 96980417#

For further enquiries please contact:

Galliford Try -                                       Peter Truscott, Chief Executive                                          01895 855001

                                                               Graham Prothero, Finance Director

Tulchan Communications -              James Macey White / Martin Pengelley                           0207 353 4200

Galliford Try plc is a leading UK housebuilding and construction group. It is listed on the London Stock Exchange and a member of the FTSE 250.  Housebuilding - through our Linden Homes and Galliford Try Partnerships businesses - sells distinctive homes to the public and affordable homes to housing associations and local authority providers.  The construction business carries out building and infrastructure work across the UK with clients ranging from major Government departments through to regulated utilities and private sector companies. At the end of the last financial year to 30 June 2015, the Group generated revenues of £2.3 billion.

 

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