Contractor acquires North Eastern affordable housing contractor with turnover of £23.3m

Galliford Try has made a move into the North East of England by buying affordable housing contractor Kendall Cross for £9.3m.

Greg Fitzgerald
Fitzgerald: Kendall Cross provides platform for growth in North East

Kendall Cross is Galliford Try’s first sizeable acquisition for six months. Since January 2006, it has bought Morrison Construction, Chardale and Linden Homes for a combined total of £245m.

Its results, released in September, showed a 63% rise in pre-tax profits to £53m, with a turnover of £1.4bn.

Kendall Cross had a turnover of £23.3m and pre-tax profits of £1.6m in the year to 31 May 2007. Its net assets as completion are expected to stand at £3.7m

Greg Fitzgerald, chief executive of Galliford Try, said: “The acquisition of Kendall Cross provides an established platform to grow the business in the North East of England, an area in which we do not currently have a presence and in which we see considerable potential.”