Galliford Try has announced "another record year" in its annual full year results.

The firms revenue increased by 31% from £1,851m in 2014 to £2,431m in 2015.

Overall group revenue improved from £1,768m last year to £2,348m (33%) this year.

Housebuilding revenue increased 11% to £1,108m from £1,002m, while construction Revenue increased 55% to £1,293.2m (2014: £832.9m).

The company stated its acquisition of Shepherd Homes for £31m accelerated growth in the North, while the purchase of Miller Construction boosted its prosperity in the construction market.

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Greg Fitzgerald, Executive Chairman of Galliford Try, said: "I am delighted to announce another record year at Galliford Try with all of our businesses buoyed by encouraging market trends.

"In Housebuilding we have achieved progress on margins, and made strides towards further enhancement, implementing some operational restructuring and other business improvement initiatives. We are very pleased to have acquired the Shepherd Homes business, which will accelerate our growth in the North. We have achieved a significant increase in the landbank with market conditions remaining positive. We are continuing to see strong demand for our Partnerships affordable housing offering.

"Our Construction division has made excellent progress in closing out older contracts, and won significant new work in an improving market, strongly assisted by the timely acquisition and swift integration of Miller Construction."

"All businesses saw high levels of build cost inflation but early signs indicate the situation may be moderating."

(LM)