Housebuilder Galliford Try has reported a group revenue of £570 million for the six months ending in December 2009, however the firm has said "the market for construction remains challenging".

The groups pre-tax profit was £6.4 million, compared to a pre-tax loss of £37.5 million in the same period as last year.

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Commenting on the results, Greg Fitzgerald, Chief Executive, said: "Against the backdrop of a more stable housing market we have made excellent progress with the first stage of our transformational housebuilding strategy for our southern based business, bringing land acquisition opportunities with attractive potential returns to fruition.

"While the Board remains cautious on the overall economic environment, with a strong balance sheet and sector leading cash resources the Group is well placed to take advantage of opportunities across its activities as they arise."

(CD/BMcC)