Bullish trading update from Galliford Try

Chief executive Bill Hocking

A trading update from Galliford Try this morning for the financial year to 30th June 2024 reports that revenue will be around £1.7bn, up from £1.4bn the previous year, with pre-exceptional profit before tax near the £30m mark.

The range of analyst forecasts for revenue and pre-exceptional profit before tax for the year had been £1.435bn to £1.643bn and £26.7m to £29.2m respectively.

With an order book of £3.8bn, Galliford Try is on course to grow revenue beyond £2.2bn by 2030, the company said.

Since January 2024 it has secured several significant projects and framework places, including:

Related Information
  • the £3.2bn Communities & Housing Investment Consortium (CHIC) newbuild development framework for affordable homes
  • the Scottish government‘s £600m public sector civil engineering works framework.
  • South West Water’s Tier 2 delivery partners MEICA framework
  • £500m Generation Five (Gen5) Civil Engineering, Highways and Transportation Collaborative Framework 2024-2028
  • £101m of public sector building projects for the Ministry of Justice and Defence Infrastructure Organisation
  • £98m of infrastructure projects, including at Netley water treatment works in Surrey and the redevelopment of the A629 route into Halifax
  • the new £69m Paisley Grammar School community campus for Renfrewshire Council.

Chief executive Bill Hocking said: “We expect to report another year of strong performance across all our operations with increased revenue and profit as we continue to progress our updated Sustainable Growth Strategy to 2030.

“Galliford Try’s ability to maintain its balance sheet strength is key to our clients and suppliers as well as our continued success in maintaining a high-quality order book in our chosen sectors.  Our confidence in the future is supported by our order book as well as a long-term pipeline of future opportunities.

“I continue to be impressed by our people, their professionalism and work ethic.   We are excited about the new financial year, our strategy to 2030 and the opportunity to deliver further strong performance and long-term sustainable value for all stakeholders.”

Galliford Try expects to announce its results for the full year on 19 September 2024.

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