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Galliford Try sees growth in house building – MoneyWeek

Housebuildershavebeendesperatetobuylandfordevelopmentsincethefinancialcrisisof2008becausechepaerlandpricestranslateintohighermargins。

GallifordTryclaimsitispullingthisoff,with73%ofit10,500plotlandbanksecuredatpost2008prices。

Interestingly,thefirmalsosaysmortgageavailabilityisnoticeablyincreasingandithasbeenabletofinda95%loantovalueproductforitscustomers。

Theconstructionarmofthefirmhasbeendeliberatelyshrunkinlinewitheconomicconditions。

DespiteprojectwinsforAnglianWaterandtheLondonDevelopmentAgencythetotalorderbooksitsat£1。

6bn,downfrom£1。

75bnin2010。

GregFitzgerald,GallifordTrysChiefExecutive,commentedontheresults:Althoughtheeconomicoutlookremainsuncertain,wehavebeenencouragedbytheperformanceofourhousebuildingbusinessasitsgrowthplancomestofruitionduringthisfinancialyear。

Constructionisbenefittingfromitslongtermframeworks,particularlyforthewaterindustry,duringthecurrentmorechallengingmarkets。

BS

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