Queensferry crossing contractor Galliford Try has reported a strong half-year performance, with the integration of Edinburgh-based Miller Construction virtually complete.
It said assimilation of the Sottish construction firm, which it bought for almost £17 million last July, into the wider group had proceeded ahead of plan.
Net debt was more than halved from December 2013 to £40m despite an increase in the land bank.
In housebuilding, Galliford said revenue is expected to be 12.5% up on the prior half-year period at 1,529 unit completions.
The 1,404 net of joint-venture partners’ share will be up 9.7%.
Total sales reserved, contracted and completed stood at the end of December at £645m from a lower number of average selling outlets compared to £652m in 2013.
Outlets are expected to increase from an average of 67 in the first half to 75 in the period from January to June this year.
The land bank is at a record 14,050 plots, with the land market continuing to be positive and 98% of land secured for 2016.
The operating margin at the Linden Homes’ subsidiary is expected to improve on the same period last year, with the average Linden Homes selling price up 7% at £310,000.
The order book in construction was £3.2 billion, compared to £1.75bn in 2013.
Enlarged business benefited from high quality clients and diverse future revenues, with 21% of the order book in the regulated sector, 59% in public and 20% in private.
No less than 98% of projected revenue for the current financial year is secured, with 72% for the year to June 30, 2016.
Executive chairman Greg Fitzgerald said: “Housing market conditions remain good, with growth having moderated to a more normal and sustainable level. We are optimistic about the prospects for a number of recent and forthcoming sales outlets.
“Our partnerships business continues to see exceptional prospects for both contracting and development in the affordable market.”
Shares in Galliford Try, which is also parent group of Queensferry Crossing contractor Morrison Construction, closed the day up 37p at 1,272p.