Galliford Try posts record half-year results

UK-based Galliford Try has announced a record half-year profit of £52.9 million (€66.8 million) for the six months ending 31 December, 2015.

The result is a 24% increase from the same period in 2014.

The company also saw its revenues rise 12% to £1.26 billion (€1.60 billion) for second half of 2015, compared with the second half of 2014.

The company’s construction sector revenues rose 22% to £734.6 million (€928.8 million), while its order book increased to £3.70 billion (€4.67 billion), from £3.25 billion (€4.11 billion) in the corresponding period a year earlier.

Peter Truscott, CEO of Galliford Try, said, “The construction market continues to improve, although at a slower rate than anticipated. We have nevertheless further improved our order book to £3.7 billion, with good visibility on projected revenue for this and the next financial year.

“Build cost increases have moderated, and availability of skilled labour has improved across all regions.”

Truscott added that the company remained encouraged by the start it had made in 2016.

Following the results, the company has announced that Ken Gillespie, chief operating officer, will retire from the group in February 2017.

Greg Fitzgerald, chairman of Galliford Try, said, “On behalf of the board, I would like to thank Ken for his significant contribution to, and excellent leadership of, the construction and investments business.”