Galliford Try continuing to perform ‘strongly’ as firm increases full-year expectations

GALLIFORD Try has hailed a ‘strong’ operating performance after reporting increased revenue and profit for the year ended 30 June 2023.

Revenue is up 12.6% to £1,394 million, while pre-exceptional profit before tax (excluding contract settlement write off) rose by 22.5% to £23.4 million.

The order book sits at £3.7 billion – up 8.8% on the £3.4 billion 12 months ago.

Divisional operating margin remained 2.4%

Chief executive Bill Hocking said, “Galliford Try continues to perform strongly and we are making good progress on our Sustainable Growth Strategy, of risk managed controlled growth – supporting our financial and non-financial targets to 2026. Our commitment to robust risk management, careful contract selection and operational excellence continues to underpin our performance and prospects.

“We are doing what we said we would do, consistently delivering increased revenue and profit, supported by our great people, a strong balance sheet, excellent order book and good supply chain and client relationships. 

“Our high quality order book provides visibility and security of future workloads. Our business is not exposed to the short term economic cycle as our sectors are critical to the UK’s future growth. Together with our excellent people and our strong balance sheet, this gives confidence in our ability to deliver our Sustainable Growth Strategy to 2026 and beyond and continue to provide long-term sustainable value for our stakeholders.

“We are encouraged that the momentum in the business has carried into the first quarter of the new financial year and our expectations for the full year to June 2024 have now increased.”