Acquisitions and strong housing sales boosts contractor's performance

Galliford Try’s revenues will soar past the £1bn mark thanks to its recent acquisitions and a strong performance at its housebuilding division, the chairman will announce at its annual general meeting today.

Chairman David Calverley will tell the meeting that the contractor will generate revenues of “significantly over £1bn” this year as well as outlining the performance of the various divisions.

Calverley will announce that sales in the housebuilding division are “significantly higher than last year” and it has either reserved, contracted or completed sales with a value of £164m, representing a 20% increase on last year. The landbank currently stands at 4,404 units.

The construction business has order book of £2.4bn while the infrastructure division has won a four-year framework for the remediation of the Olympic Park in east London.

Last month, Galliford Try posted a 19% increase pre-tax profit to £32.4m on a revenue of £851m for the year ending 30 June 2006.