GALLIFORD Try has posted a pre-tax profit of £11.4 million on revenue of £1,125 million for the financial year ended June 30 2021.
The contractor celebrated a return to profit following last year’s pre-exceptional loss of £59.7 million.
The group added that divisional operating margin was ahead of expectation at 2%, while the order book has risen from £3.2 billion in 2020 to £3.3 billion, of which 91% is in the public and regulated sectors and 9% is in the private sector.
The firm’s building and infrastructure divisions were successful in securing new work during the year including places on Scottish Water’s £350 million SR21 Non-Infrastructure framework, and £350 million Delivery Vehicle 2 programme.
Average month-end cash through the year was £164 million.
Galliford Try chief executive Bill Hocking said, “I am very proud of the progress the group has made over the last year. We have dealt with challenging circumstances and continue to successfully manage the current market conditions. Our commitment to robust risk management, careful contract selection and operational excellence underpins our performance and prospects.
“The group has an excellent order book and balance sheet. We are strongly positioned to meet the increasing demand for social and economic infrastructure in the UK and deliver growth. Our secure foundation provides the basis for our Sustainable Growth Strategy, which aligns our financial objectives with our sustainability aspirations to deliver sustainable profitable growth. The outlook is positive for the sector and the management team and board look forward to the new financial year with confidence.”