Growth for Galliford Try

UK contractor Galliford Try Plc announced growth across the board as it posted its annual results for the year ended 30 June 2012.

The contractor reported a 17% increase in group revenue to £1,504 million (€1,875 million), while profit before tax jumped 80% to £63.1 million (€78.6 million). According to the company, the results "exceeded the objectives set out in a three-year transformational plan."

Galliford Try ended the year with a strong balance sheet and £23 million (€28.6 million) in net cash, thanks to a disciplined growth strategy.

In house building, Galliford Try completed 3,039 properties in the year, up 40% on 2011 figures. Sales were up 7% at £350 million (€435 million), including sales currently reserved, contracted or completed.

Despite difficult markets, the contractor's construction segment remained strong, with a 2% margin and year-end construction cash balance of £146 million (€180 million). Galliford Try also reported an order book worth £1.65 billion (€2 billion), stable year-on-year.

Looking ahead, Greg Fitzgerald, chief executive, was confident that the strong 2012 figures would be followed by further growth. "We have a strong balance sheet and a disciplined growth strategy with a clear focus on improving margins that positions us well to deliver further profitable growth in the new financial year and beyond," he said.