Galliford Try has 'increased confidence' in FY results
By Iain Gilbert
Date: Wednesday 15 Jan 2025
(Sharecast News) - Construction firm Galliford Try said on Wednesday that it now has "increased confidence" in its ability to meet current market expectations.
Galliford Try said the overall group was "performing well", winning a number of key projects and places on strategic frameworks throughout the first six months of the current financial year.
The London-listed group stated trading was ahead of both the prior year period and internal expectations, and noted that given continued project wins and improved framework participation, full-year revenue and pre-tax profits were expected to be at the upper end of current market expectations, reflecting continued progress towards margin targets.
Galliford Try also pointed out that its order book of £3.9bn remained predominantly in long-term frameworks, including an "excellent succession of wins" in the water sector, providing visibility of secure future workload.
Chief executive Bill Hocking said: "Our strong performance in the first half of the financial year provides increased confidence for the full year.
"Encouraged by our performance in the first six months of the year and the robust outlook, our expectations for the full year to June 2025 have improved accordingly."
As of 0930 GMT, Galliford Try shares were up 7.04% at 386.40p.
Reporting by Iain Gilbert at Sharecast.com
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