精东影视

A two-fold increase in Galliford Try鈥檚 housebuilding business has helped the firm record bumper half-year results, with profit and revenue both significantly up.

Pre-tax profit at the contractor rose 89% for the six months ended 31 December 2011 to 拢32.2m, up from 拢17m over the same period the previous year.Turnover also grew 30% over the period to 拢746.8m, up from 拢575.9m in 2010.

A record six months for the group鈥檚 housebuilding business accounted for most of the revenue and profit growth.

Galliford Try鈥檚 housebuilding arm grew 45% over the period, with turnover up to 拢277.0m, from 拢152.9m in 2010.

Profit at the division increased by 350% to 拢35m (up from 拢9.9m) as housebuilding margins almost doubled from 6.5% to 11%.

The contractor said total housing completions over the period were up 59% to a record 1,352 units. There was also a 34% increase in total sales currently reserved contracted and completed at 拢605m, up from 拢450m in the second half of 2010.

Galliford Try said it was on course to meet its ambitious three-year housebuilding expansion strategy which was set out in September 2009 this year.

The group鈥檚 construction business grew only marginally from 拢442.6m to 拢499.9m and profit stood still at 拢10.9m. The operating profit margin at the division dropped from 2.5% to 2.2%.

The contractor said its housebuilding business had secured 100% of plots for planned construction in 2012 and 2013, with 76% of 10,700 plot land bank acquired at current market values.