Try Accord, a new buildings and infrastructure maintenance business, has been created out of the company's Try Build and Arnold and Nathan businesses.
Group chief executive David Calverley said it would team up with major facilities management firms to carry out building and civils work.
The business will also compete in the utilities sector, and will seek work with public sector clients such as the Metropolitan Police, the Ministry of Defence and councils.
Try Accord is headed by former Southern Electric construction director Steve Pollard, who announced the changes following a review of the existing businesses.
A second business, Try Interiors, has been launched in the London and Thames Valley areas. Calverley said it would concentrate on the fit-out market, which has been buoyed by the wave of mergers and corporate restructuring taking place among large clients.
Try announced the restructuring at its results, which showed a 53% jump in pre-tax profit to £3.4m.
Turnover slipped back from £143.9m in 1997 to £139.4m in 1998. Calverley attributed this fall to Try's decision to be more selective about the type of contracts it chased.
Try's contracting arm contributed operating profit of £1.02m – 30% up on the year before – on a turnover of £117.7m.
Its housebuilding arm was much more profitable, contributing an operating profit of £3.6m on a turnover of £29.3m.
The business was boosted by the purchase of Amey Homes in October, and Calverley said he was on the lookout for another purchase to add to the group.