Galliford Try set for more job cuts

Galliford try could cut a further 5 per cent of its workforce in the construction business amid fears of government spending cuts and a continued decline in demand.

The housebuilder and construction firm, which employs about 3,850, said it has cut some 15 per cent, or 500 jobs, in the construction division in the past year.

Its chief executive, Greg Fitzgerald, expects construction sales to fall 7 per cent in this year, mainly due to cuts in public spending, but he expects sales from the housebuilding unit and private commercial projects to offset this.

For the year to 30 June, revenues fell 16 per cent to £1.22bn but pre-tax profits came in at £19.2m after a £26.9m loss in 2009.