Galliford Try sees FY profits at top end of analyst forecasts
Galliford Try
392.00p
12:40 24/12/24
Construction group Galliford Try said on Thursday that full-year profit before tax and exceptional items was set to be at the upper end of current analyst forecasts following a continued strong performance across its operations.
Construction & Materials
12,142.66
12:54 24/12/24
Analysts have pencilled in a range of £16.4m to £18m for profits for the year ending 30 June 2022.
In an update ahead of the results due in September, Galliford said there has been "continued encouraging progress" against its margin improvement target.
It hailed a strong balance sheet, with around £218m of cash at 30 June, versus £216m a year earlier, and average month-end cash during the financial year of circa £174m, up from £164m.
Galliford said its outlook was "confident", with a high-quality order book of £3.4bn compared to £3.3bn the year before and a strong pipeline of future orders, with 90% of revenue for the new financial year secured.
Chief executive Bill Hocking said: "The group expects to report strong performance across all its operations including increased revenue, pre-exceptional profit and operating margin. We are making good operational progress in line with our Sustainable Growth Strategy, supporting our financial targets to 2026.
"The group has maintained its balance sheet strength, an even more important differentiator for our clients and suppliers in the current economic environment, as well as a high-quality order book predominantly in the public and regulated sectors.
"We move into the new financial year with confidence and are well placed to deliver strong future performance and long-term sustainable value for all stakeholders."