GT continues momentum in south

Feb. 20, 2013
Galliford Try is seeing “continued momentum” in the housebuilding market, particularly in the south of England, the housing and construction business said today (February 20).<br> Reporting on the firm’s half year ending December 31 2012, GT said that its housebuilding arm would retain its southern focus where it has around 75% of its landbank.<br> Over the six month period, GT’s housebuilding revenue stayed static year on year at £277.5 million (£277 million in 2011).<br> The housebuilding business achieved a rate of sale of 0.46 unit sales per outlet per week, yielding a 2% increase in actual sales reservations made against last year. Since the end of December, the sales rate has climbed to 0.67.<br> Completions were at a “record” 1,364 units compared to 1,352 last year. GT’s private average selling price rose 3.8% to £248,000.<br> “Underlying growth is strong given that last year’s results included a contribution of £6.9 million from one significant land ” said GT’s ceo Greg Fitzgerald. “In line with our stated strategy and progress to date we will continue our disciplined focus on margin enhancement in housebuilding.”<br>

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