Galliford Try has reported a £61.5 million annual loss for its construction business only a day after revealing plans to focus on the division by selling off its profitable housebuilding unit to Bovis Homes.
Losses for the construction business are more than double last year’s £29.1 million because of £46.4 million of exceptional costs relating to contract writedowns and internal restructuring.
Galliford has begun to reduce the size of its construction business to focus on more profitable areas, including regional building, highways, defence, education, health and water infrastructure projects.
Galliford Try has reported a £61.5 million annual loss for its construction business only a day after revealing plans to focus on the division by selling off its profitable housebuilding unit to Bovis Homes.
Losses for the construction business are more than double last year’s £29.1 million because of £46.4 million of exceptional costs relating to contract writedowns and internal restructuring.
Galliford has begun to reduce the size of its construction business to focus on more profitable areas, including regional building, highways, defence, education, health and water infrastructure projects.
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