Growth for Galliford Try
By Sarah Ann McCay18 September 2012
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.