Galliford Try's sales rise

UK contractor Galliford Try reported an 18% year-on-year increase in revenues for the six months to 31 December, 2014, to £1.08 billion (€1.47 billion).

Profit before tax also jumped 18% to £42.5 million (€57.78).

The company’s construction operations produced a record year-on-year order book of £3.25 billion (€4.42 billion) against £1.25 billon (€1.70 billion) for the same six month period in 2013.

It said that its increases in what it described as a “rapidly improving market” had in part been due to the acquisition of the UK-based Miller Construction group for €20.9 million last year.

One of the strongest performing areas of the business was its partnership ventures. Revenues from this side of the business were up 56% to £157.6 million (€213.4 million) for the half-year, compared to £100.9 million (€137.15 million) for the first half of 2014. This included its work as lead developer for London’s £350 million (€475.8 million) Silvertown Way project in Canning Town.

The company is seeking a new CEO after executive chairman Greg Fitzgerald, who is also chief executive, said last summer that he intended to step down by the end of 2015.

Fitzgerald said, “Housing market conditions remain good and we are optimistic about the prospects for a number of recent and forthcoming sales outlets. Our partnerships business continues to see exceptional demand for contracting in the affordable housing market and the development business is growing in line with plan.

“Our enlarged construction business has a record order book, with the Miller Construction integration now completed.”