Contractor makes positive interim statement but says warns mortgage availability and public sector cuts make future uncertain

Contractor Galliford Try has announced in an interim statement to the City that its housing business has grown and its house prices are “slightly above expectations”.

Sales reserved, contracted or completed from 1 July to 4 November this year totaled £312m, up 14% from the same period last year.

It said that prices had been “slightly above expectations” but cautioned that mortgage availability “remains a serious constraint”.

On construction, Galliford Try has an order book of £1.75bn, the same figure as a year ago.

It warned that the impact of the government spending cuts on the company were not yet know.

“The economic outlook remains uncertain and the full implications of the Government’s comprehensive spending review on both the Group’s housebuilding and construction activities are not yet clear,” the statement said.

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