The company’s projects range from the construction of residencies to motorways. Credit: Leeds Fotografica via Shutterstock.

UK-based construction company Galliford Try has reported its statutory profit before tax (PBT) has increased by 87% to £10.1m ($12.4m) in the financial year (FY) ending 30 June 2023, compared with £5.4m last year.

During the year, revenue increased 12.6% to £1.39bn against £1.23bn in 2022.

The company works on projects ranging from residences to motorways.

The company’s order book grew by 8.8% to £3.7bn, with 92% of its order book for FY24 already secured.

Its preexceptional profit before tax rose 22.5% to £23.4m, excluding a £2.8m on exceptional items from £19.1m reported earlier.

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Operating profit before amortisation for the year was £19.1m and the combined divisional operating margin was 2.4%.

During the reported year, the company acquired 100% of the share capital of MCS Control Systems, as well as certain contracts and assets of Ham Baker.

Galliford CEO Bill Hocking said: “Galliford Try continues to perform strongly and we are making good progress on our sustainable growth strategy, of risk-managed controlled growth – supporting our financial and non-financial targets to 2026.

“Our high-quality order book provides visibility and security of future workloads. Our business is not exposed to the short-term economic cycle as our sectors are critical to the UK’s future growth.

“Together with our excellent people and our strong balance sheet, this gives confidence in our ability to deliver our sustainable growth Strategy to 2026 and beyond and continue to provide long-term sustainable value for our stakeholders.”