GALLIFORD Try has reported a 65% rise in pre-tax profit to £11.7 million before exceptional costs for the first six months of the financial year.
The contractor hailed a ‘confident outlook and strong performance’, which saw revenue climb 14% to £679 million compared with the same period 12 months earlier.
Divisional operating margin increased slightly to 2.3%, while average month-end cash for the period was £154 million – down from £180 million last year. The iInterim dividend is up 36% to 3p per share.
The group said that full-year profit before tax is expected to be at the ‘upper end’ of current analyst estimates.
Galliford Try has a £3.5 billion order book.
Chief executive Bill Hocking said, “I am pleased with the group’s performance in the first half of the financial year, seeing increasing revenue and divisional operating margin, as we continue to make good progress against our strategic objectives. Our strong performance is a reflection of our excellent people and well established relationships with our supply chain and clients.
“In line with our Sustainable Growth Strategy, we acquired the specialist businesses of MCS Control Systems and Ham Baker in the first six months of the year, which further enhance our Environment business’ off-site build and asset optimisation offering to clients. The integration of these businesses is progressing well.
“Our strong and high quality order book, in our chosen sectors, provides visibility and security of future workloads. Together with our excellent people and our strong balance sheet, this gives confidence in our ability to deliver our Sustainable Growth Strategy and continue to provide long-term sustainable value for our stakeholders.”
