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Galliford Try saw pre-tax profit jump 19% to 拢32.4m driven by a strong performance from its housebuilding division and recent acquisitions as it looks to break the 拢1bn revenue barrier next year.

Pre-tax profit for the year ending 30 June 2006 rises to 拢34.5m when a 拢2 exceptional from the sale and leaseback of its premises is included.

The contractors revenues grew 19% to 拢851m up from 拢718m while the groups landbank saw a 58% to 4115 units.

In construction, profit from operations increased 拢13.2m, giving a margin of 2.1%. Margins in the housebuilding divisions were 14.3% from an operating profit of 拢32m.

Galliford Try made two acquisitions in the financial year. In February it bought Chartdale Homes for 拢67m and at the end of March it acquired Morrison Construction for 拢42m.

Chief executive Greg Fitzgerald believes the acquisitions will drive the company鈥檚 revenue past the 拢1bn mark next year.

Operations excluding acquisitions rose 14% to 拢35.6m, with 拢2.6m from acquired businesses, resulting in a total of 拢38.2m.

Fitzgerald said: 鈥淲e have had an excellent year with record financial results and transformed the business with two key acquisitions. Our finances are very strong. Acquiring Morrison and Chartdale has demonstrated our ability to supplement organic growth with carefully positioned acquisitions that fit our strategy. We have proved the success of our business model in delivering profitable growth and we look forward to reporting further progress in the coming year.鈥�