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Galliford Try hindered by construction costs

Galliford Try hindered by construction costs

Galliford Try (GFRD) bore the cost of its attempt to become a pure-play construction business, focused on building, water and highways work and selling its housebuilding operations to Bovis Homes (BVS). Additional costs to complete the Aberdeen western peripheral route (AWPR), writing down legacy contracts and restructuring its construction operations dented statutory pre-tax profits last year. Yet the decision to take a more selective approach to bidding for new work also weighed on revenue and meant the group order book stood 12 per cent lower than the prior year at £2.9bn.

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