Topic Results
Date 05 Mar 2025
Galliford Try has posted another impressive set of results for the half year to 31 December 2024, as it continues to make strong progress towards its 2030 Sustainable Growth Strategy targets.
The business has produced strong increases in profit, up 22% to £20.5m, revenue up 13% to £923m and the Group’s order book, which now stands at £3.9bn, is up from £3.7bn at the same stage last year.
The divisional adjusted margin has increased from 2.5% to 2.7%, making progress towards the 2030 target of 4%, and interim dividend is up 38% to 5.5p. Cash is strong at £176m, up from £155m at the previous year end in 30 June 2024.
A new Revolving Credit Facility (RCF) has been established on attractive terms with leading banks, reflecting confidence in the Group’s outlook and strong balance sheet. The RCF provides greater agility and resilience to the business.
The Group has benefited from key successes on long-term major frameworks and is well placed to support the Government’s commitment to growth, with 98% of projected revenue for the current financial year, and 81% for the next financial year already secured, giving more predictability to trading.
Bill Hocking, Chief Executive, commented: “The Group’s excellent performance in the first half of the financial year provides increased confidence and improved revenue, margin and profit expectations for the full year.
“In addition to our continued successes in Building and Environment, we see a pipeline of opportunities across all our chosen sectors. Our track record of operational delivery, focused risk management, committed people and established relationships with our supply chain and clients provides consistency to our results.
“Our recent major long-term framework wins and order book provide clear visibility and security of future workloads well beyond the current financial year and we welcome the Government’s commitment to grow the economy by major investment in infrastructure and development.
“Our performance and future outlook give us confidence to improve our expectations for the full year to 30 June 2025 and we are committed to delivering long-term sustainable value for our stakeholders.