GALLIFORD Try has increased pre-tax profits by a third for the half-year period ended 31 December, 2023.
Revenue rose from £679 million to £819 million compared with the same period in 2022. Profit before tax was up from £11.7 million to £15.6 million before exceptional costs.
The business has reported a 33% increase in interim dividend to 4.0p per share (H1 2023: 3.0p) and hailed a ‘strong’ balance sheet with average month-end cash for the period of £150 million (H1 2023: £154m) and a PPP asset portfolio of £43.5m (June 2023: £44.6m).
In terms of outlook, the group reported a £3.7 billion ‘high quality and focused’ order book, and ‘excellent visibility’ over future revenue with 98% and 83% of projected financial year 2024 and 2025 revenue secured.
Chief executive Bill Hocking said, “I am very pleased with the group’s performance in the first half of the financial year. There is strong momentum in the business and our continued excellent performance is a reflection of our disciplined strategy, committed people and long established relationships with our supply chain and clients.
“The group has delivered increased revenue and divisional operating margin, as we make accelerated progress towards our strategic objectives, and we will continue to provide long-term sustainable value for our stakeholders. Our strong and high quality order book, predominantly in long term frameworks, provides visibility and security of future workloads and continued growth prospects well beyond the current financial year.”
