Mixed results revealed
The infrastructure divisions of groups Galliford Try and Morgan Sindall have announced contrasting financial results. Construction and housebuilding group Galliford Try has seen its profit from operations in its infrastructure arm fall to £3.6M on revenue of £215.4M for the six months to December 31, 2012.
The second-half figures are down on the profit of £5.2M and revenue of £249.7M for the first six months of 2012. The figures for the second-half represented a 1.7% margin, down from 2.1% in the first half.
For the group as a whole revenue fell to £678.3M, compared with £746.8M for the first half of 2012. Pre-tax profit, however, remained flat at £32.2M due to a strong showing in housebuilding.
Galliford Try’s Infrastructure division carries out civil engineering projects, primarily in the water, highways, flood alleviation, remediation and renewable energy markets operating across the UK. It said it is "preparing and progressing our interest in the water sector’s next five-year asset management programme" and is "encouraged" by the government’s planned investment in infrastructure projects.
Greg Fitzgerald, chief executive, said: "We are also encouraged by our performance since the start of the calendar year and are confident of meeting the Board’s expectations for the full year."
Morgan Sindall’s infrastructure business contributed to "a solid set" of preliminary results for the year ending December 31, 2012.
Against a backdrop of challenging trading conditions Morgan Sindall Group delivered a solid performance in 2012. Profit before tax, amortisation and non-recurring items was £47.1M compared with £45.3M for 2011 on revenues of £2B.
In January, Yorkshire Water Services awarded Morgan Sindall, in joint venture, a £14.6M project to upgrade Castleford Wastewater Treatment Works. This followed the joint venture’s appointment in November 2012 for a £22M project to improve Bridlington’s bathing water quality and a similar project at Scarborough, worth £26M.
- Reservoir renewal: Severn Trent's Ambergate project Laing O'Rourke and nmcn (formerly NMCNomenca) this year completed work on Severn Trent’s £43 million project to replace... Read More >
- Offsite build powers South East Water's £22M treatment works expansion South East Water's expansion of Bray Keleher Water Treatment Works is in full swing, with offsite manufacture aiding... Read More >
- Moving towards greener resilience Nature-based solutions can help us to see the big picture when building in system resilience, writes Dr Jonathan Simm,... Read More >
- A glass half-full? Bringing water costs down for utility customers Mark Bullock, Balfour Beatty chief executive officer for rail and utilities, says the water sector must change its... Read More >
- INWED 2019: 'Each step was driven by choosing work I enjoy' To mark International Women in Engineering Day 2019 on 23 June, Fiona Barbour discusses her journey to becoming Mott... Read More >
- Interview: Kier Utilities' water MD Nigel Dyer Kier Utilities' Nigel Dyer tells Robin Hackett how the company is evolving to meet the changing demands on the water... Read More >
- Comment: New tech and partnerships will up the ante on leakage Closer partnerships, technology and connectivity will be the key to tackling leakage, with collaborative delivery... Read More >
- The search for safer streetworks practices Amey Utilities' HSEQ director, Gerry Mulholland, explains how the company’s 2020 Challenge and Know What’s Below... Read More >