Galliford Try expands landbank as sales increase

May 10, 2010
<p>Galliford Try has boosted its landbank from 7,800 plots to 9,700 plots since last summer as the firm looks to expand in the south in line with the three year strategy set out prior to the rights issue last September.</p> <p>The buy out of Bank of Scotland's interest in 742 plots around London, a joint venture deal with Affinity Sutton on 296 plots in the south east and the purchase of Rosemullion Homes in Cornwall have all aided the expansion.</p> <p>In a statement to the City today, the firm said sales stand at £443 million compared to £400 million this time last year, working from 60 active sites (2009:54). Visitor levels have been satisfactory with cancellation rates down at 15%, below the historical average.</p> <p>In the statement Galliford Try said that buyers were still constrained by mortgage availability but that there were "welcome signs" that the number of mortgage products is increasing and are more flexible.</p> <p>Chief executive Greg Fitzgerald said: "We have seen a positive start to 2010 in housebuilding . We remain confident that we are on track to deliver our transformational housebuilding expansion plan."</p> <p> </p>

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