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Galliford Try has said it has been asked to look at taking over work that collapsed contractor ISG had been expected to carry out.

Chief executive Bill Hocking said public sector clients had got in touch with the firm asking it to run the rule on jobs where ISG was a framework contractor.

鈥淚t鈥檚 framework positions in the public sector, stuff that鈥檚 not in the ground yet,鈥� he said.

鈥淲e鈥檙e not too keen on taking anything halfway through,鈥� he said, adding that clients needed to move quickly to get jobs left stranded by the firm鈥檚 demise back up and running again. 鈥淭he faster they act, the better. Penny pinching will cost [clients] a lot more than time.鈥�

Hocking said the firm was also looking to take on staff made redundant following ISG鈥檚 administration and added: 鈥淲e are talking to their HR people about staff coming across. [ISG鈥檚 collapse] is not good for anybody. For the staff, the supply chain or the industry.鈥�

He was speaking as the firm said revenue in the year to June was up 27% to 拢1.8bn with pre-tax profit up from 拢10m to 拢31m. Average month-end cash was up 15% to 拢155m while its order book edged up 3% to 拢3.8bn.

Hocking said the firm carries out 90% of its work in the public and regulated sectors, such as water, and added that its record set of results had been down to better risk management.

鈥淚t all falls around that,鈥� he said. 鈥淓very single job in the order book we can do, day in, day out with confidence. We turn away rubbish because you always regret the rubbish later on. Firms fall over because they don鈥檛 stick to a disciplined strategy.鈥�

He said the firm鈥檚 move into affordable housing is expected to produce an income of around 拢250m by 2030 with the company expecting to build around 1,200 units for that sort of revenue.

鈥淲e鈥檙e going in as a contractor, we鈥檙e building blocks of flats for local councils and residential providers鈥� he said, adding that the firm would eventually move into mixed-use tenure jobs.

Galliford Try has set itself a profit margin target of 4% by 2030 with this year鈥檚 operting margin standing at 2.5%. Hocking said the 4% number was attainable and added that clients were beginning to pay more money rather than see firms go to the wall. 鈥淭hey鈥檝e started to realise it鈥檚 better to pay a bit more than save a bit of money here and there.鈥�

The firm said its year-end dividend payment would be 11.5p on top of the 4p interim dividend it paid out earlier in the year. The final dividend of 15.5p is a rise of 48% on last time.