英国代写ASSIGNMENT -ABC ASSIGNMENT
英国代写ASSIGNMENT -ABC ASSIGNMENT,ASSIGNMENT 2
Yaqing Yang
MAIN ACTIVITIES
Galliford Try is a leading construction and house building company and it provides a comprehensive range of business throughout United Kingdom. It offers construction service to public and individual clients focusing on the health, education, leisure, commercial, prison, affordable housing sectors and regeneration sector, and contract with affordable housing providers and regeneration agencies to establish contemporary and ecological communities. Infrastructure and public engineering work such as, renewable energy sectors, water supplies, telecommunications, road and rail networks are also developed by Galliford Try, as well as ground engineering works. Moreover, it undertakes homes for sale on individual design and bespoke developments, and capitalizes on public private partnership which is focusing on delivering design, finance, build and operate solutions for long term public sector projects.
FINANCIAL PERFORMANCE
Galliford Try’s total revenue of 2009 was £1,461million which most was contributed by £235million, £184million, £546million and £517million from house building, affordable housing and regeneration, building and infrastructure respectively with 1769units completions and £1575million order book, comparing with the turnover £1831.9million in 2008 and £1409.7million in 2007. The company profit from operations of £31.2 million (2008: £85.4 million).Moreover, they continue to generate cash balances which exceeded our forecasts throughout the year with a net cash position of £34.1 million (2008 net debt: £1.7 million) at the end of year. (Note: Excel data will be displayed at Reference section)
With respect to the gross margin 5.18 %( 2008:8.85% and 2007:9.5%) and the net profit ratio -1.22% (2008: 2.32% and 2007:3.09%), it is obvious to see that Galliford Try is less efficiency in turning raw materials into income and it will have less money left over to spend on other business operations. Comparing with the previous two year, Galliford Try cannot be optimistic about their current situation. Although the onset of the financial crisis in September 2008 leading to the worst housing market in generations and dramatic decline in sales for the majority business, Galliford Try is still under high risk.
Relating to financial crisis which leads to the severe deep recession on market, the majority of construction companies are less profitable the previous year, they cannot make a reasonable profit on sales even some of them suffer a loss at the end. In the construction group in UK, for example Kier, a leading construction, development and service group specializing in building and civil engineering, support services, public and private house building, property development and the Private Finance Initiative, achieved a £2112million revenue with 6.74% gross margin and 0.8% net profit ratio in 2009; competing with Kier, Galliford Try was less efficiency and much weaker.(Note: Comparison data will be calculated and displayed at Reference section)#p#分页标题#e#
EPS (EARN/LOSS PER SHARE)
In 2009, Galliford try experienced a loss of £17.8million with 374million shares on average, which result in a deficit £4.8, on the contrast, 2008 is a harvest year with £42.5million profit and an increasing £11.4 per share. However, the adjusted earnings per share based on the earnings before net exceptional items of £36.3 million (2008: £8.1 million) is much positive by £4.9 each share (2009) and £13.6 every share (2008).
In general, earning per share and share price of Galliford Try was affected by overall market performance, especially the depression from end of 2008 which generated stagnant housing market and low revenue of the company, although the overall market recovered during second half year of 2009. The macroeconomic effects, in particular diminished liquidity, initially impacted the Group’s house building activities, as well as successive impacting the market for financing construction projects, particularly those in the private sector. In addition, On 10 September 2009, a rights issue was announced by Galliford Try to raise approximately £119 million, net of expenses, to recommence the expansion of its house building business, which was significantly raising the share price.
MISSION STATEMENT
The mission statement of Galliford Try has been separated in following areas:
Building Division: Working in collaboration to deliver quality sustainable buildings with profitable returns.
Infrastructure Division: Working in partnership, safely deliver innovative, quality driven and best value solutions in order to meet our customers’ needs.
Investments Division: By securing and managing PPP projects, create favorable, sustainable outcomes such that all stakeholders can achieve their aspirations.
House building Division: To provide sustainable new homes and communities for the future.
Group Affordable Housing & Regeneration Division: Transforming lives and landscapes through partnerships that build vibrant, new, sustainable communities.
Group Services: Working together to enhance the Group’s performance by delivering expertise, quality driven and best value services.
In year 2009, in housing building sector, Galliford Try achieved that acquired Wright Homes’ assets with 147 plots on five sites around Hull and York, customer satisfaction scores with over 90% and ranking as sixth largest house builder in the UK. .In the affordable housing and regeneration sector, they have established a strong relationship with the Homes and Communities Agency (HCA) and the Group’s directly funded programme rising to £80Million. In building sector, they secured £103 million contract at St Pancras Chambers and won £205 million of education contracts and added £49 million new health projects to current workload. In infrastructure sector, the main achievement are secured further civil engineering framework at Olympic Park for work through 2012 up to 2014 and won position on £1 billion framework contract for Network Rail. The profit from operations was £0.5 million comparing with £0.3 million in 2008 in investments sector#p#分页标题#e#
COMPETITIVE ADVANTAGE
Galliford Try’s corporate responsibility （CR）which is relating to management of economic, environmental and social responsibilities to benefit interested parties and future generations, play a key role in competition. In addition, Galliford Try ‘strategy of housing based on their position in the market and the factors such as geography, their business are spread areas that was comprehensively anticipated and with a great perspective. Furthermore, Galliford Try benefit from investing in human resource management and high-tech. Ability to align development expertise with a strong partnering ethos and to extract synergies across the wide range of services can set apart much of competition from other companies. For example, Galliford Try developed direct wind energy which is supplied directly to the business, which in turn generated a strategic cost reduction and a secure energy supply that some of the business drivers behind the rapid adoption of this approach.
Reference
Galliford Try’s Report & accounts 2009
Galliford Try’s Evolve-Spring 2008
Galliford Try’s Report & accounts 2008
Galliford Try’s main website
Information relating to Kier Group Plc
Share volume and prices of Galliford Try
Galliford Try Vs FTSE- all share
Personal calculations based on above information and figures
Galliford Try finance in last 3 years
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KIER GROUP FINANCE IN LAST TWO YEARS BASED ON THEIR ANNUAL REPORT
