Galliford Try ‘pleased’ with performance in first half of financial year

GALLIFORD Try Holdings has revealed the group is ‘performing well’ and trading in line with the board expectations.

The announcement was made in a trading update for the half year period covering the second half of 2021.

The business added that its ‘disciplined approach, investment in modern construction practices and digitalisation, and active engagement with our supply chain’ have proved ‘particularly important’ during the recent period of materials shortages and inflation.  

Average month-end cash for the six months ended 31 December 2021 was circa £180 million (year to 30 June 2021: £164 million) and period-end cash at 31 December 2021 was circa £210 million (31 December 2020: £211 million).

Recent project wins that contribute to a £3.4 billion order book include the £55 million Galashiels Community Campus on behalf of Scottish Borders Council and hub South East.   

Chief executive Bill Hocking said, “We are pleased with our performance in the first half of the financial year. We have made strong progress on our strategic objectives. Our recent acquisition of nmcn’s water business, fully aligned to our strategy, offers significant opportunity to the Group and our water sector and related clients. 

“With our excellent people, strong balance sheet, market leading sector positions, and high-quality order book we are well placed to deliver strong future performance and long-term sustainable value for all stakeholders.”

The group expects to announce its results for the half year on March 3.