Galliford Try’s profit has risen 19% for the year to 30 June, despite being offset by a disappointing performance from the group’s construction division.
The firm’s pre-tax profit increased from £15.1m last year to £18m, with most of the gains coming from the group’s housing operations. The housing division posted a 76% jump in operating profits to £22.5m on turnover that was 46% higher at £162m.

But construction profit was £400,000 on turnover of £487m. Chief executive David Calverley said the division had been hit by old, loss-making contracts and delays on finalising new deals. The group also wrote off PFI bid costs of £1m over the period.

Calverley added that the construction division was being restructured, saying: “Frameworks and partnerships is the aim rather than traditional contracting.”

Frameworks and partnerships is the aim rather than traditional contracting

David Calverley, Galliford Try