Galliford Try shares rose over 5 percent on Tuesday morning, after achieving significant growth in both revenue and profit across the full-year period.
In a trading update, the group said total completions are expected to increase 4.4 percent to 3,442 units from 3,296, with the contracting order book standing at £1.05 billion for the year. The landbank rose 22 percent to 3,300 plots from 2,700 plots, with revenue and profit supported by increasing demand over the period.
The construction divisions entered the new financial year with an order book of £3.3 billion, with projected revenue of 87 percent, up from 84 percent last year. This was boosted by the addition of a new £43 million residential development in Birmingham, a 304-apartment project developed by Court Collaboration.
Galliford Try are set to report strong full-year results, in line with previous guidance, and net cash at 30 June 2018 of £97 million for the year, up from £7.2 million the previous year.
Shares in Galliford Try (LON:GFRD) are currently up 5.88 percent at 882.50 (0902GMT).
