Topic Results
Date 03 Oct 2024
Galliford Try has announced a strong performance with its financial results to 30 June 2024, delivering another year of sequential, robust revenue and margin growth.
All key financial metrics for the business have shown improvement, with profit before tax and exceptional items rising by 39.7% to £32.7m. That result has translated into an increased dividend to shareholders, up to 15.5p.
Revenue has grown strongly across the Group, up to £1.8bn, while average month-end cash is also up at £155m.
The Group has a high-quality £3.8bn order book positioned across its chosen sectors and high visibility of workload with 92% of FY25 and 70% of FY26 work already secured.
The UK’s planned, and required, investment in economic and social infrastructure continues to support growth in our chosen markets; and the Group’s confidence in the outlook is supported by the long-term public and regulated sector frameworks that Galliford Try retains key positions on.
As a result, the Group has announced a further share buyback programme up to a maximum of £10m, reflecting both a corporation tax refund and its confidence in future cash generation.
Bill Hocking, Chief Executive for Galliford Try, commented: “We have delivered a strong performance across all operations delivering increased revenue and profit, ahead of analysts’ previous expectations.
“We will continue doing what we said we would do, consistently delivering strong performance - supported by our exceptional teams, a strong balance sheet, solid order book and excellent supply chain and client relationships.”
The Group’s excellent progress builds further on the strong operational and financial performance delivered since 2021, which enabled the Group to update its Sustainable Growth Strategy targets ahead of plan at a Capital Markets Event in May 2024.