Housebuilder Galliford Try posts record profit and says it is ready for Brexit uncertainty

Housebuilder Galliford Try posted record annual profit, adding it is well-placed to withstand the uncertainties of the Brexit vote.

It said pre-tax profit jumped 18% to £135m ($178m, €159m) in the year to the end of June, after the group completed 11% more homes totalling 3,078 in the period.

Housebuilders are enjoying a period of low interest rates and supportive government programmes such as Help to Buy, which are tempting buyers to get on the property ladder.

The firm's two other business units – construction and regeneration programmes – also performed well last year as the government continued to press ahead with plans to build affordable housing and invest in infrastructure projects.

Chief executive Peter Truscott said it had been an "excellent" year for the business, which left it well-placed for the coming 12 months despite the country voting to leave the European Union in June.

Truscott said: "The decision to leave the European Union inevitably creates a backdrop of uncertainty for the new financial year.

"However, we have been encouraged by visitor levels and sales rates at Linden Homes through the summer. The balance of our businesses and the strength of our order books mean that we are well-placed to manage the impact of this uncertainty."