Housebuilder Galliford expects first-half profit above expectations

Wed Jan 9, 2013 2:58am EST

Jan 9 (Reuters) - British homebuilder Galliford Try Plc said first-half profit would be above its expectations as the company benefited from selling more homes at higher prices.

"Housebuilding continues to deliver good results in a stable market with construction performing well against a backdrop of a difficult market," Chief Executive Greg Fitzgerald said in a statement.

Galliford said the housing market, particularly in the south of England -- which is the company's main focus -- continued to be stable with prices achieved slightly ahead of expectations since the start of the company's financial year in July.

Sales during the first half ended Dec. 31 were 1,364 units, up from 1,352 units last year. Average selling prices were up 3.8 percent in the period at 248,000 pounds ($397,700).

The company said it was on track to meet its expectations for the full year.

Galliford's shares, which have risen about 19 percent in the past six months, closed at 771 pence on Tuesday on the London Stock Exchange.

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