Galliford Try stalls annual results

Galliford Try has announced a delay to its upcoming full year results due to the Group’s auditor BDO requesting more time to complete their standard auditing processes.

The firm’s for the year ended 30 June 2024 results were due to be posted this Thursday, before the delay.

According to the London stock Exchange, the Group confirmed that both the outturn for the year ended 30 June 2024, and outlook remain consistent with the trading update dated 11 July 2024 (the “Trading Update”).

In the update, 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 expected 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. 

Meanwhile, 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.

The London Stock Exchange announcement states: “The Group entered the year with a high quality £3.8 billion order book (2023: £3.7 billion) positioned across its chosen sectors with 92 per cent of FY25 revenue already secured.

“The Board is confident in the outlook for the current financial year and is encouraged by the momentum in framework and sector wins, which align with the strategy to 2030 outlined in May 2024, and underpins the opportunity to deliver further strong performances and sustainable long-term value for all stakeholders.”

Hocking said: “We remain excited by our Sustainable Growth Strategy and are confident in the outlook for the financial year, with revenue and pre-exceptional profit before tax expected to be above the upper end of analyst forecasts from the time of the Group’s most recent trading update in July.

“We are in great financial shape as a business, with high calibre teams, a very strong balance sheet, and excellent recent contract and framework wins underpinning our high-quality order book, all of which give confidence in the outlook for the current financial year and beyond.”

The Group has not provided a date as of yet, saying it will provide an update with a revised results date in due course.

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