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Barratt Developments announced a 57% reduction in its debt to 拢605.3m since 30 June 2009. This was partly due to cash management on the housebuilder鈥檚 part, but most of the proceeds have come from a rights issue and the sale of a commercial property.

However, the group did report another post-exceptional loss of 拢178m, down from 拢594m in the same period in 2008, the bulk of which related to its costly refinancing and rights issue 鈥� which came in at 拢130m.

Hybrid housebuilder and construction firm Galliford Try posted a pre-tax profit of 拢6.4m, a turnaround compared to a 拢37.5m loss in the same period of 2008. The group鈥檚 success owes much to it taking advantage of low land prices and increasing its landbank, financed by a 拢119m rights issue.

Housebuilder MJ Gleeson also posted a small profit of 拢300,000, compared to a loss of 拢23.7m in 2008. Chairman Dermot Gleeson now plans to buy new, low-cost sites in the north of England, where land values remain reduced.

Construction giant Kier saw turnover remain steady at around 拢1bn, but pre-tax profit fell by 47% to 拢16.7m.

Chief executive John Dodds, who is overseeing his last set of results, said the figures were boosted by Kier鈥檚 presence on more than 50 framework agreements. The firm has set aside 拢18m to cover the Office of Fair Trading鈥檚 拢17.9m fine for cover pricing, but is preparing to appeal against the ruling and hopes the costs will be lowered at a Competition Appeals Tribunal this summer.

Posting yearly results, builders merchant Travis Perkins said the business remained robust, with pre-tax profits at 拢180m.

Chief executive Geoff Cooper described the trading conditions as the 鈥渕ost difficult鈥� in the group鈥檚 history and that the group would focus on 鈥渙rganic growth in this low growth environment鈥�.