GALLIFORD Try has announced that the group expects to report a sixth consecutive year of revenue, profit and cash growth.
The announcement was made in a trading update for the year ended 30 June.
Galliford Try said full-year revenue is expected to have grown circa 3% with commercial discipline and quality project execution across both building and infrastructure leading to adjusted profit before tax at the ‘top end’ of analysts’ current forecasts of around £53.4 million.
Average month-end cash for the year ended 30 June was up 21% at £216.2 million, with year-end cash on that date of £258.8 million. The group has a circa £37.2 million portfolio of marketable Public Private Partnership (PPP) assets, no pensions liabilities and no bank debt.
Current order book sits at £4.3 billion, providing visibility of long-term future workload with around 90% of revenue of the new financial year secured.
Since January, the business has secured places on major frameworks and been awarded significant projects, including three schools totalling £139 million for Scottish Borders, Midlothian Council and Balgores Road in Romford.
Bill Hocking, chief executive, said, “I am pleased that all our operations have performed well throughout the year, and we expect to report our sixth consecutive year of revenue, profit and cash growth at our full-year results presentation in September.
“Our reputation for selecting and delivering quality projects together with our financial discipline and balance sheet strength continue to be key to all stakeholders. We support government and regulated investment in the UK’s social and economic infrastructure and affordable housing.
“As a UK-only contractor, our confidence in the future is supported by our high-quality order book, a long-term pipeline of future opportunities in our chosen sectors and our ability to re-invest selectively in earnings-accretive growth opportunities. We benefit from great people and committed project teams, and we look forward to delivering continued progress and long-term value for all stakeholders as we deliver our strategy to 2030.”
