Galliford Try has changed its plan to hit a 2% profit margin by 2021, delaying it instead to 2022.
The news came as the contractor unveiled its half-year results for the six months ended 31 December 2019, which followed its sale of Linden Homes and its partnerships division in January.
Pre-exceptional revenue in Galliford Try’s continuing operations was £636m for the period, down from £72m in the first half of 2019. It made a pre-tax loss of £4.6m, although following the sale, its statutory results showed a £60.5m profit on revenue of £668m. Meanwhile, Galliford Try’s order book was flat at £3.2bn.
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