By 2018 the company is aiming to grow its construction and house-building revenues by 50% and to more than double its current profits.
Group revenue for the six months to 31 December 2013 was up 18% to 拢803.5m (2013 H1: 拢678.3m).
Profit before tax was also up 18% to 拢38.1m (2013 H1: 拢32.3m).
The house-building division, Linden Homes, enjoyed a 20% rise in revenue to 拢328.2m (2013 H1: 拢273.5m) from completions of 1,300 units, with an operating margin of 13.5% (2013 H1: 12.4%).
In construction, revenue was flat at 拢398.1m (2013 H1: 拢400.7m) and operating profit dropped 25% to 拢5.5m (2013 H1: 拢7.4m), representing profit margin shrinkage from 1.8% last time to 1.4%. However, with opportunities rising and a 拢1.25bn order book (2013 H1: 拢1.2bn), the board is optimistic about prospects. The board said that it expected construction operating margin to shrink further in the short term, but then to rise towards 2.0%.
Chief executive Greg Fitzgerald said: "The half year saw strong performance across the group and we have been very encouraged by the start of the calendar year. 聽Group profit for the half year is at a record high and we continue to be encouraged by the levels of future opportunities.
鈥淗ousing market conditions continue to improve with Linden Homes revenue rising 20% and good progress is being made on our margin enhancement plan.聽 In the first six months of the financial year we have secured a significant increase in our landbank and the land market remains generally positive.
鈥淎s previously indicated, we have realigned Galliford Try Partnerships within housebuilding so as to maximise the significant potential of our strong presence in the affordable housing market.
鈥淚n construction we have increased our order book as our businesses continue to perform strongly in the current market.聽 Whilst the market in the short term remains challenging we continue to see increased levels of opportunities and I am delighted with the new projects awarded during the period.鈥�
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