Galliford Try swung to an interim loss in the first half of its current financial year, as it repositions its business to balance financial targets with wider commitments.
The construction firm has recorded a pretax loss of £2.6m for the six months to the end of 2021, compared with £4.1m profit posted a year earlier. This comes amid Galliford Try’s investment in the cloud-based ERP systems and acquisition of NMCN’s water business. Excluding those costs, the company’s pretax profit would have been £7.1m, up 73% year-on-year.
Revenue grew by 9.6% to £594m from £542m, with the company’s order book also advancing slightly to £3.4bn from the £3.3bn recorded at the end of 2020.
