GALLIFORD Try has hailed a ‘strong’ performance in a trading update for the year ended 30 June 2024.
The group has increased revenue and profit before tax, adding that full-year revenue and pre-exceptional profit before tax are expected to be above the upper end of current analyst forecasts. The range of forecasts for revenue and pre-exceptional profit before tax is £1.435 billion to £1.643 billion and £26.7 million to £29.2 million respectively, as at 1 July 2024.
In terms of balance sheet, the business had circa £227 million of cash at 30 June 2024 (2023: £220m) and average month-end cash during the financial year of circa £155 million (2023: £135m).
A ‘confident outlook’ is driven by an order book of £3.8 billion, with 92% of revenue for the new financial year secured.
Chief executive Bill Hocking said, “We expect to report another year of strong performance across all our operations with increased revenue and profit as we continue to progress our updated Sustainable Growth Strategy to 2030. Galliford Try’s ability to maintain its balance sheet strength is key to our clients and suppliers as well as our continued success in maintaining a high-quality order book in our chosen sectors.
“Our confidence in the future is supported by our order book as well as a long-term pipeline of future opportunities. I continue to be impressed by our people, their professionalism and work ethic. We are excited about the new financial year, our strategy to 2030 and the opportunity to deliver further strong performance and long-term sustainable value for all stakeholders.”
