Galliford Try plc, the housebuilding and construction group, said that recent wins in water have reinforced its number one position in the sector. However, it described the construction market as remaining difficult with the publication of its interim management statement for the period 1 January to 8 May 2012.

The firm said its construction division was performing well “in the context of what continues to be a difficult market.”  The total order book of £1.6 billion has remained stable (31 December 2011: £1.6 billion) and in line with expectations, with 80% of next year's revenue already secured (2011: 72%). Significant project wins in the period include a total of £117 million of projects for Anglian Water, Scottish Water and Yorkshire Water and financial close on the £347 million Gateshead Regeneration programme. 

Galliford Try said that in line with strategy the division is "focusing on projects that provide acceptable returns, maintaining robust risk management and developing opportunities with key clients and within established frameworks."

Commenting on the results, Chief Executive Greg Fitzgerald said:

"The housebuilding division, with its southern focus, continues to perform well with strong sales in the year to date. Although construction markets remain difficult we have won a number of important contracts in our chosen markets.  The Group is confident of delivering its housebuilding expansion plan as set out three years ago and we remain on track to meet our expectations for the financial year.  The strong financial performance in the period means the Group is expected to be cash positive at financial year end.  Our disciplined growth plans and focus on margin improvement should continue to create shareholder value and support our progressive dividend policy."