Markets News

CORRECTED-Britain's Galliford sees return to profit as construction resumes

(Corrects to FTSE small-cap company from FTSE 250 company in paragraph 2)

Sept 16 (Reuters) - British construction firm Galliford Try on Wednesday said it expects to return to profitability in fiscal 2021 as site activity resumes and productivity nears normal levels, after coronavirus lockdowns led to a loss this year.

Excluding one-time items, the FTSE small-cap company reported a pretax loss of 59.7 million pounds ($77 million) for the year ended June 30, compared with a loss of 17.2 million pounds last year.

However, Galliford expects to resume dividend payouts next year, as it posted improving margins and a year-on-year increase in its order book.

$1 = 0.7757 pounds Reporting by Pushkala Aripaka in Bengaluru; Editing by Devika Syamnath