Construction specialist Galliford Try Partnerships North has trebled turnover to return to profit.
Financial results for 2013/14 show a £27.7 million turnover - £8.08 million the previous year – and a profit of £178,000 against a loss of more than £1 million in 2012/13.
The turn around comes on the back of a re-alignment of the company to become a provider of turnkey housing solutions, rather than simply a builder, in an improving housing market. In addition the business has put a real drive into establishing genuine partnerships with housing providers and its suppliers.
The main focus now is working with registered housing providers and local authorities to deliver extra care facilities for older people and affordable housing, while developing high quality new homes for sale through its housebuilding division – Linden Homes North East.
Managing Director, Stephen McCoy, said: “I am delighted with this growth and the fact that we have returned to profit. Since our June year end we have continued to secure new work and anticipate turnover in the region of £40 million for the current year.
“We have also invested in people and skills development, more than doubling our head count from around 70 to 150 – including about 30 graduate trainees. All of this makes us the fastest growing division in the Galliford Group at present.”
“Looking ahead I anticipate further, though perhaps less spectacular growth and our aim is to make a significant contribution to the quality and choice of housing available across the region – whether for sale or for the rented sector.
Key clients include Coast and Country, Isos, Livin, Home Group, Homes For Northumberland, Riverside, South Tyneside Housing Ventures Trust, Thirteen and Your Homes Newcastle.
As part of the Gateshead Regeneration Partnership, Galliford Try Partnerships North is developing 19 sites around Gateshead, delivering around 2,400 homes for sale, shared ownership and rent, over the next 15 years.
This includes the first live sites at The Sycamores in Birtley and Trilogy I in Saltwell, where there are properties for sale and at Avon Street in Deckham, a small development of shared ownership and rented properties.
With planning permissions recently granted for Linden Homes developments at the former St. George’s Hospital site in Morpeth and the company’s former office site in West Road Ponteland a further 400 new homes are on the way.
-ENDS-
For further information, contact: Paul Dobbie at Persuasion PR on 0845 071 0678 / 07967 197 224 or email paul.dobbie@persuasion-pr.com
References to “we”, “us” or “our” are to the part of the Vistry Group (including Linden Homes, Bovis Homes, Countryside Homes, Drew Smith, Vistry Ventures or one of Vistry’s joint venture companies) from which you are intending to purchase a new home. References to "you” and “your” are to the prospective buyer or buyers of a new home from us.
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales consultants for details of the exact specifications available at the development(s) for each type of home and the associated prices.
