| Galliford Try profit warning |
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| Tuesday, 13 May 2008 | |
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Galliford Try has said that profits this year are likely to come in well short of market forecasts. The shortfall is due to the performance of its housebuilding division. Its statement said: "Markets for the group's housebuilding division have been difficult throughout the spring selling season. In recent weeks they have shown a further sharp deterioration as the availability of mortgage finance for homebuyers has reduced. Accordingly, the board now expects that the group's profit before tax for the year ending 30 June 2008 will be no less than £60m. Previous market estimates had been for profits of over £75m. The statement added that the construction, affordable housing and regeneration businesses are performing strongly.       |
