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21/02/2017
Galliford Try Reports 'Strong' First Half Financial Performance
Galliford Try has reported a 'strong' first half performance in its results for the six months ended 31 December 2016.
The Group revealed its revenue has risen to 4% to £1,235 million (H12016: £1,182m) while profit before tax was up 19% to £63m (H12016: £52.9m). Company net debt has also been reduced from £113.8m to £95.7m.
Both its Linden Homes and Partnerships divisions reported rises in operating margins, while the construction division saw revenue increase to £742m (H12016: £738.6m).
By 2021, the construction business is targeting £1.8 billion in revenue, an operating margin of at least 2%, and net cash of £200m.
In addition, Linden Homes expects to achieve 4,750 - 5,000 units complete per annum by 2021, while Partnerships and Regeneration is targeting 4,200 units (contracting and mixed tenure) per annum.
Peter Truscott, Chief Executive, said: "The Group delivered another strong performance in the first half. Our reorganised management teams have settled well and are making positive strides towards their respective operating and financial targets.
"Over the last 16 months we have focused on enhancing the strengths of each business, to build a solid platform for further disciplined and profitable expansion."
(LM/CD)
The Group revealed its revenue has risen to 4% to £1,235 million (H12016: £1,182m) while profit before tax was up 19% to £63m (H12016: £52.9m). Company net debt has also been reduced from £113.8m to £95.7m.
Both its Linden Homes and Partnerships divisions reported rises in operating margins, while the construction division saw revenue increase to £742m (H12016: £738.6m).
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By 2021, the construction business is targeting £1.8 billion in revenue, an operating margin of at least 2%, and net cash of £200m.
In addition, Linden Homes expects to achieve 4,750 - 5,000 units complete per annum by 2021, while Partnerships and Regeneration is targeting 4,200 units (contracting and mixed tenure) per annum.
Peter Truscott, Chief Executive, said: "The Group delivered another strong performance in the first half. Our reorganised management teams have settled well and are making positive strides towards their respective operating and financial targets.
"Over the last 16 months we have focused on enhancing the strengths of each business, to build a solid platform for further disciplined and profitable expansion."
(LM/CD)
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