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15Oct92 UK: GALLIFORD HIT BY REDUNDANCY COSTS.

Redundancy costs, sharply lower construction profits and increased losses from its materials arm took a heavy toll on Galliford's results for the year ending June.Pre-tax profits at the Leicestershire-based contractor more than halved to £3.03 million (1991: £6.4 million); as a result the firm described a 'disappointing' and 'a reflection of the extremely competitive market place which has developed during the recession'.Operating profits of £3.73 million (1991: £8.56 ...

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