16th Sep 2015 06:34
LONDON (Alliance News) - Construction and housebuilding group Galliford Try PLC on Wednesday said its pretax profit pushed higher in the first half as its revenue grew on the back of strong performances on both of its main divisions.
The FTSE 250-listed company said its pretax profit for year to the end of June was GBP114.0 million, up from GBP95.2 million a year earlier, as its revenue increased to GBP2.35 billion from GBP1.77 billion. Including the contribution from its joint ventures, revenue was up to GBP2.43 billion from GBP1.85 billion.
Based on the results, Galliford Try raised its final dividend to 46.00 pence per share, meaning its total dividend increases to 68.00 pence, up 28% year-on-year.
In its housebuilding arm, revenue rose 11% on strong performances for its Galliford Try Partnership and Linden Homes business. Linden saw its margin improve in the year as its average selling price rose to GBP327,000 from GBP305,000.
In the construction business, the acquisition of Miller Construction allowed the company to expand its operations within an improving marketplace and resulted in stronger revenue, a better order book at the close of the half, up to GBP3.8 billion from GBP3.0 billion, and meant the group has 90% of its projected revenue for 2016 in place.
"I am delighted to announce another record year at Galliford Try with all of our businesses buoyed by encouraging market trends," said Executive Chairman Greg Fitzgerald.
By Sam Unsted; [email protected]; @SamUAtAlliance
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