Construction company Galliford Try Partnerships North has secured five new contracts worth more than £10m during the first few weeks of its new financial year, significantly boosting forecast turnover while also securing jobs and creating new employment opportunities.
The projects secured by the Newcastle Great Park-based company include the construction of an extra care facility, a hospice, apartments, houses and bungalows, all signed up since the firm’s year end on June 30.
The new projects include a scheme in partnership with Leazes Homes, Your Homes Newcastle and Newcastle City Council to create an assisted living development in Kenton. Construction is also underway on the first phase of a new facility for the Willow Burn Hospice in Lanchester.
Working with Gosforth-based social housing provider Home Group and Gateshead Council, the company, which employed an average of 82 employees last year, will also build 24 new affordable homes in Felling.
There are also schemes with Housing Hartlepool, part of The Vela Group. The first will see the redevelopment the historic Grade II listed Friarage Manor House building and the surrounding 1.95 acres, to create affordable homes for families and older people. The second is the first phase of the redevelopment of the former Henry Smith School site in King Owsy Drive, Hartlepool.
Managing director Stephen McCoy said the firm’s turnover is expected to be £35m this year, a record for the division, and a target of £50m has been set for next year.
McCoy said: “We are delighted to have made such an excellent start to the year.
“Clearly the construction industry is growing again but I think this expansion reflects extremely well on our team here in the North East.
“Recruitment for further growth is already under way and we anticipate creating at least 10 new jobs over the course of the year as we continue to grow the business to meet our long term objectives.
“Multiple additional employment opportunities will be created within our consultant and sub contract partners.”
The contract wins represent a return to form for the company, the North East arm of national group Galliford Try, which saw a drop in revenues to £9.14m for the year ended June 2012 from £12.2m on the previous 12 months, having struggled through tough economic conditions.
The firm also recorded a loss before tax of £743,00 for the same time period, a slip from the £187,000 loss reported the year before.
Despite the fall in financials the firm said it was confident of future prospects thanks to the award of the Gateshead Evolution project, and it said it was not prepared to acquire work “where price levels or contract conditions are unacceptable”.