Galliford Try performing in line with expectations
Galliford Try Holdings said today it is well placed to deliver “strong future performance and long-term sustainable value” for stakeholders after a trading update revealed the group is “performing well” and trading in line with the board’s expectations.
The update detailed the group’s further operational progress in the half year period from 1 July 2021 to 31 December 2021 as it continues to execute against its Sustainable Growth Strategy.
Galliford Try said all of the group’s projects are fully operational in line with the latest government and industry Covid guidelines.
“Our disciplined approach, investment in modern construction practices and digitalisation, and active engagement with our supply chain have proved particularly important during the recent period of materials shortages and inflation,” the group said. “We continue to manage these challenges effectively and without any material impact on trading.”
The average month-end cash for the six months ended 31 December 2021 was circa £180 million (year to 30 June 2021: £164m) and period-end cash at 31 December 2021 was circa £210m (31 December 2020: £211m).
Recent project wins, contributing to its £3.4 billion order book, include the £55m Galashiels Community Campus on behalf of Scottish Borders Council and hub South East.
Bill Hocking, chief executive, said: “We are pleased with our performance in the first half of the financial year. We have made strong progress on our strategic objectives. Our recent acquisition of nmcn’s water business, fully aligned to our strategy, offers significant opportunity to the group and our water sector and related clients.
“With our excellent people, strong balance sheet, market leading sector positions, and high-quality order book we are well placed to deliver strong future performance and long-term sustainable value for all stakeholders.”
The group expects to announce its results for the half year on March 3.