July 11, 2017 / 7:12 AM / a year ago

Homebuilder Galliford sees full-year profit at top end of forecast

(Reuters) - British housebuilder Galliford Try, which pulled out of a 1.2 billion pound attempt to buy rival Bovis in April, said it expects full-year profit to come in at the top end of analysts’ forecasts.

A builder assembles scaffolding as he works on new homes, in south London June 3, 2014. REUTERS/Andrew Winning/Files

Galliford said that it saw a strong performance across all of its businesses, with revenue growth accelerating in the second half at its Linden Homes division. It said it was sticking to its forecasts for 2018.

Analysts forecast profit before tax for the year ending June 30 to be 46 million pounds to 59 million pounds, the company said.

“As we enter the new financial year, we are cautious about the impact of the current political uncertainty following the general election and the medium-term outlook for the macro economy,” Galliford cautioned.

Shares in the company were up 3.5 percent at 1,212.8 pence at 0705 GMT (8.05 a.m. BST), placing them second on the FTSE Mid Cap index gainers list.

Reporting by Rahul B in Bengaluru

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