Galliford Try has said it is confident it will deliver another year of increased revenue and profits, following a strong performance across all its operations.
Chief executive Bill Hocking said he expects group revenue and pre-tax profit for the full year to be above City forecasts, which are currently £1.6 billion and £29.2 million, respectively.
The construction group declared no debt and a year-end cash position at 30 June 2024 of £227 million (FY2023: £220 million) and average month-end cash of £155 million up from £135 million the year before.
Galliford said it was confident about its outlook as it sits on an order book of £3.8 billion, roughly in line but up slightly on 2023, and with 92 per cent of revenue for the new financial year locked in.
The group is currently targeting revenue of more than £2.2 billion and a divisional operating margin of 4 per cent by 2030.
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.”
Was this interesting? Try Fitout firm Corley and Woolley seeks to restructure
If you have a tip or story idea that fits with our publication, please contact the news editor rory@wavenews.co.uk
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.
