Galliford Try expects return to profitability


GALLIFORD Try has revealed it expects to report a return to profitability and a resumption of dividends with its half-year results to 31 December 2020.

In a trading update for the half year period, the business confirmed all its projects have been fully operational since the start of the financial year on 1 July and they are continuing to trade at ‘normal levels’ through the current restrictions.

Average month-end cash for the six months was £158 million and the contractor envisages a ‘strong pipeline of opportunities’ in core sectors. Galliford Try added that its ‘strong position’ in the public and regulated sectors leaves the firm well positioned to benefit from increasing government construction and infrastructure spending.

Bill Hocking, chief executive of Galliford Try, said, “The health, safety and wellbeing of our colleagues is of paramount importance, especially during the current lockdown. Our staff and supply chain’s response to the challenges faced in 2020 was exemplary and I am pleased with the trading performance that we have delivered. Despite the ongoing challenges from Covid-19, our strong balance sheet, market leading sector positions and high-quality order book give me confidence in our future performance.”

The group expects to announce its results for the half year on 4 March 2021.