Galliford Try’s latest financial update reveals revenue and profit figures that surpass analyst expectations, marking a significant year of growth.
- The construction firm reported revenues of £1.7 billion for the year ending 30th June 2024, compared to £1.4 billion the previous year.
- Pre-exceptional profit before tax is projected to reach £30 million, outperforming analyst forecasts of £26.7 million to £29.2 million.
- The company’s order book boasts £3.8 billion, with ambitions to increase revenue to £2.2 billion by 2030.
- Key projects secured in 2024 include significant frameworks across affordable housing, public sector engineering, and educational infrastructure.
Galliford Try has released a robust financial update, indicating that both revenue and profit figures have exceeded prior expectations set by market analysts. The construction company reported a dramatic rise in revenue, reaching approximately £1.7 billion, significantly up from £1.4 billion recorded in the prior fiscal year. Such a performance showcases the company’s dynamic growth trajectory within the competitive construction sector.
Apart from revenue, the pre-exceptional profit before tax is also projected to reach near the £30 million mark, surpassing the analyst forecasts that ranged between £26.7 million and £29.2 million. Such financial strength not only highlights the company’s operational efficiency but also reflects its strategic approach to securing and delivering key projects.
Galliford Try’s order book, now standing at £3.8 billion, sets a promising path for future growth, with aspirations to elevate revenue figures to beyond £2.2 billion by the year 2030. This ambition is backed by several notable project acquisitions and framework placements secured in 2024, enhancing their portfolio and sector presence.
Significant among these projects is the £3.2 billion Communities & Housing Investment Consortium (CHIC) framework, focusing on newbuild developments for affordable homes, and the Scottish government’s £600 million framework for public sector civil engineering works. These projects emphasize Galliford Try’s commitment to contributing to vital public and social infrastructure.
Chief Executive Bill Hocking expressed optimism, reiterating the importance of maintaining balance sheet strength and a robust order book. He emphasised the continued professional dedication of the workforce as pivotal to achieving the company’s strategic objectives and delivering sustainable value. Galliford Try is poised to announce its full-year results on 19th September 2024.
Galliford Try’s exceeding performance underscores its strategic position for continued robust growth and long-term sustainability.
