Profits rise at contractor

Queensferry Crossing contractor Galliford Try saw pre-tax profits spike by almost a quarter in the first half of this year.

Shares edged ahead yesterday after the firm, whose Morrison Construction arm is part of the consortium constructing the new span over the Forth, revealed a 12% hike in group revenues to £1.26 billion in the six months to December 31.

Pre-tax profits climbed by 24% in the period to £52.9 million – a record for the half year – while the company declared an 18% increase in the interim dividend.

CEO Peter Truscott said the company had produced a “strong performance” in the period.