Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Galliford Try aims for £2bn construction business by 2020

Galliford Try has set out plans to hit £2bn of construction revenue by the end of this decade.

Chief operating officer Ken Gillespie told NCE that infrastructure work would play a big part in continuing growth in the non-housing side of the hybrid business.

Galliford Try this morning announced construction revenue of £1.3bn for the year to 30 June 2015 – up more than 50% on the previous year, largely thanks to the acquisition of Miller Construction.

It also revealed steady growth in housebuilding income, with record group revenue of £2.4bn.

Gillespie said: “I would like to see us work towards £2bn of construction work in 2020.

“Infrastructure is going to be a big part of that – we have long-term positions on rail and highway frameworks.”

He added that increasing construction margin – from just 1.2% in the last financial year – was a major focus.

“I would like to see us increase margin to 2% and beyond,” he said. “My drive is to get the margin rewards the industry deserves.

“What holds this back is the number of players in the market, which is substantially greater than in most European countries.”

Gillespie admitted to fears ahead of the 25 November government spending review.

“I have some concerns and really hope we don’t see reductions in road and rail investment,” he said. “The industry continues to represent itself to the government on the basis that infrastructure capital spending is the way to deliver economic improvement.”

Galliford Try reported pre-tax profit of £114M for the six months to 30 June 2015, up 20% from the previous year.

It revealed a construction order book of £3.8bn, which was up from £3.0bn at the same point a year earlier.

As previously announced, Taylor Wimpey divisional chairman Peter Truscott will join as chief executive next month. After a three-month handover period, Greg Fitzgerald will become non-executive chairman on 1 January 2016.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.