Contractor Galliford Try has reported that revenue and profits will be ahead of expectations in the year to June.
In a year-end trading update this morning, chief executive Bill Hocking said he was also confident about the outlook for the year ahead based on a group order book of £3.8bn (2023: £3.7bn).
“We start the new financial year with 92% of revenue secured and with significant investment required in our chosen sectors of the UK’s infrastructure,” he said.
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“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.”
Average month-end cash for the year to 30 June 2024 was ahead at £155m compared to £135m previously.
City investor expectations for this year stand around £1.6bn revenue and a pre-exceptionl pre-tax profit of £29m. This is strongly ahead of the previous year’s reported £10m pre-tax profit from £1.4bn turnover.
