Brexit threat looms over Linden Homes’ “strong progress”

Sept. 11, 2019
<p><span>Linden Homes stands to be the most affected by Brexit out of all of Galliford Try’s divisions, the business said today (September 11).</span></p> <p><span>Reporting on its annual results, the construction, housebuilding and regeneration business stated that, depending on the circumstances of the UK’s exit from the European Union, “the biggest impact we foresee is the effect on our markets, and on the Linden Homes market in particular</span><span>, </span><span>of a potential severe decline in consumer confidence and economic activity in general”.</span></p> <p><span>This potential </span><span>drop in consumer confidence and economic activity “could coincide with Linden Homes’ autumn selling season,” GT continued. </span></p> <p><span>But it added that it was “as prepared as possible” for any disruption, and </span><span>it</span><span> had considered the impact of Brexit on its supply chain, engaging with suppliers across all of its businesses.</span></p> <p><span>Despite the overhanging threat, Linden Homes made further strong progress during the year ending June 30 2019, GT said, “delivering on its strategic objectives, achieving good financial performance, and preparing for further growth and margin progression.”</span></p> <p><span>Its margin was broadly in line with last year at 19.6% (2018: 19.5%).</span></p> <p><span>But completions fell slightly from 3,442 units last year to 3,229, of which 2,227 were for private housing …

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