Acquisitions help Galliford Try secure record year

Greg Fitzgerald

GALLIFORD Try has reported a 31% revenue increase to £2,431 million for the year ended June 30.

Pre-tax profit is up 20% to £114 million, with the Group highlighting the acquisitions of Shepherd Homes and Miller Construction as one of the reasons for the standout figures.

Housebuilding enjoyed an 11% increase in revenue to £1,108 million while the construction side of the business has a £3.8 billion order book.

Greg Fitzgerald, executive chairman, said, “I am delighted to announce another record year at Galliford Try with all of our businesses buoyed by encouraging market trends. In housebuilding we have achieved progress on margins, and made strides towards further enhancement, implementing some operational restructuring and other business improvement initiatives. We are very pleased to have acquired the Shepherd Homes business, which will accelerate our growth in the North. We have achieved a significant increase in the landbank with market conditions remaining positive.

“Our construction division has made excellent progress in closing out older contracts, and won significant new work in an improving market, strongly assisted by the timely acquisition and swift integration of Miller Construction.

“All businesses saw high levels of build cost inflation but early signs indicate the situation may be moderating. Reflecting the delivery of record results and our continued confidence in the business, we have increased our full year dividend by 28%.”

Peter Truscott became the Group’s new chief executive at the start of October. Following a three month handover, Greg Fitzgerald will take up the role of non-executive chairman from 1 January 2016.