Profit surge and upgraded expectations at Galliford Try

The contractor reported a 20%+ jump in pre‑tax profit, reaching around £24 million for the six months to 31 December 2025, on revenue of £935m, up 1.3% year‑on‑year. Margins improved from 2.7% to 3.2%, edging the business closer to its 2030 target of 4%.

With 98% of this year’s revenue already secured and market conditions improving across both building and infrastructure, Galliford Try now expects full‑year revenue and adjusted profit to come in above the top end of current market forecasts.

Chief executive Bill Hocking said the results reflect “real margin growth” driven by efficiency measures and strong operational delivery. He added that the group’s performance and order book “gives us confidence to raise our expectations for the full year to 30 June 2026”.

The group’s order book has risen 5% to £4.1bn, providing visibility “well beyond the current financial year”. Around 80% of FY27 revenue is already secured.

Breakdown of the order book:

Building: £2.4bn

• 49% defence & custodial
• 19% education
• 14% facilities management

Infrastructure: £1.7bn

• £1.17bn environment
• £547m highways

After the half‑year period, Galliford Try acquired Nene Valley Fire & Acoustic for around £10m. The bolt‑on deal strengthens the group’s fire protection capabilities and provides a platform for nationwide growth.

Hocking said the building division will be buoyed by custodial, defence and education work, with the firm set to announce its first major affordable housing project shortly. Infrastructure prospects remain robust, particularly in water and highways.

He emphasised the group’s “strong balance sheet, focused risk management and established supply‑chain relationships”, positioning Galliford Try to support the government’s wider infrastructure investment plans.

Chief executive Bill Hocking said: “I am pleased with the group’s performance in the first half of the financial year which supports increased confidence in improved revenue, adjusted operating margins and profit expectations for the full year. In addition to the transition to the AMP8 water programme and our continued framework and project successes, we also see further 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.

“The group benefits from a strong balance sheet and a high quality, carefully selected order book, providing good visibility of future workloads well beyond the current financial year. Continued investment in our people ensures consistent delivery for our clients and positions us well to support the government’s commitment to economic growth through major infrastructure investment.

“Our continuing strong performance and order book gives us confidence to raise our expectations for the full year to 30 June 2026. We will continue to focus on driving long-term value creation for all our stakeholders in our Sustainable Growth Strategy to 2030.”