Record profits for UK's Galliford Try

By Neill Barston22 September 2014

A record level of profit has been posted by Galliford Try with its six-month financial results.
Group revenue for the UK-based company was up 21% to £1.76 billion and profits before tax were £95 million – also up 28% year-on-year.
The results comes as its chief executive Greg Fitzgerald has confirmed he is to step down from his post by the end of 2015.
He has spent 33 years with Galliford Try and the company has now begun the process of finding a new appointment for his position.
According to the firm’s half-year figures, its main area of profit increase came from its core homebuilding activity. This saw revenue rises to £1.01 billion (€1.28 billion) from £730 million (€928.1 million) in 2013.
Revenues from joint venture projects, which were added to further last month with a planned partnership scheme worth a total of £452 million (€574.69 million) in Canning Town, London, UK, have risen 150% to £242.8 million (€308.70).
Greg Fitzgerald, chief executive, said, “We have made excellent progress during the year against our strategy of disciplined growth with principal focus on margin.
“Linden Homes achieved an improved margin, ahead of our expectations, and significantly stronger average selling prices, reflecting the quality of our homes, our prime locations and the backdrop of improved consumer confidence. As we have gone through the quieter summer period, sales have been in line with our expectations.”

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