Galliford Try, the owner of Scottish builder Morrison Construction, has posted full-year pre-tax profits up 68% to £19.1 million.
The order book increased year-on-year to £3.4 billion, with highlights of the past 12 months including the acquisitions of the NMCN water business.
When combined with increased activity in the water sector’s AMP7 frameworks, this boosted revenue for the year to June 30 past £1.2bn.
The total excludes any contribution from MCS Control Systems, which was acquired in July.
The Galliford Try board also announced an intended buy-back of shares, worth £15m.
Excellent start to sustainable growth strategy.”
Bill Hocking, chief executive, Galliford Try.
Chief executive Bill Hocking said: “The group has had another successful year. We have made an excellent start to our sustainable growth strategy – delivering risk-managed controlled growth, while making good progress towards our margin improvement target.
“With our passionate teams, strong balance sheet, sector positions, excellent client and supplier relationships and order book, we look forward to the future with confidence.”
Addressing the cost-of-living challenge, Galliford Try described how it would help employees.
This support includes a one-off payment to more than 1,800 staff this autumn, totalling about £1m.
Payments of up to £750 to around 1,800 staff members
Individual payments of up to £750 will be made to around 1,800 people, representing almost half of the company’s employee base.
The move comes in addition to paying employees in line with the real living wage and, earlier this year, investing in a “significant” overall pay rise for staff.
Mr Hocking added: “We recognise the rising cost of living is challenging many households across the UK and, as a people-orientated, values-driven organisation we are committed to supporting our people through a variety of means.
“This is just the latest step of many, offering added support where we can make a difference.”
