Galliford Try Partnerships North trebles turnover and returns to profit
National construction specialist Galliford Try Partnerships North, which operates from Great Park Gosforth, has trebled turnover to resoundingly return to profit.
Financial results for 2013/14 show a £27.7m turnover, up from £8.08 million the previous year, and a profit of £178k against a loss of more than £1m in 2012/13.
The turn around comes on the back of a re-alignment of the company to become a provider of turnkey housing solutions, rather than simply a builder, in an improving housing market.
In addition the business has put a real drive into establishing genuine partnerships with housing providers and its suppliers.
The main focus now is working with registered housing providers and local authorities to deliver extra car facilities for older people and affordable housing, while developing high quality new homes for sale through its housebuilding division – Linden Homes North East.
Key clients include Coast and Country, Isos, Livin, Home Group, Homes For Northumberland, Riverside, South Tyneside Housing Ventures Trust, Thirteen and Your Homes Newcastle.
As part of the Gateshead Regeneration Partnership, Galliford Try Partnerships North is developing 19 sites around Gateshead, delivering around 2,400 homes for sale, shared ownership and rent, over the next 15 years.
This includes the first live sites at The Sycamores in Birtley and Trilogy I in Saltwell, where there are properties for sale and at Avon Street in Deckham, a small development of shared ownership and rented properties.
With planning permissions recently granted for Linden Homes developments at the former St. George’s Hospital site in Morpeth and the company’s former office site in West Road Ponteland a further 400 new homes are on the way.
Managing Director, Stephen McCoy, said: “I am delighted with this growth and the fact that we have returned to profit. Since our June year end we have continued to secure new work and anticipate turnover in the region of £40 million for the current year.
“We have also invested in people and skills development, more than doubling our head count from around 70 to 150 – including about 30 graduate trainees. All of this makes us the fastest growing division in the Galliford Group at present.”
“Looking ahead I anticipate further, though perhaps less spectacular growth and our aim is to make a significant contribution to the quality and choice of housing available across the region – whether for sale or for the rented sector.
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