Galliford Try has reported significant financial growth, focusing on public and regulated sectors.
- Turnover reached £1.8bn for the year ending 30 June 2024, marking a substantial milestone.
- A notable pre-tax profit increase of 39.7% was achieved, totalling £32.7m.
- The company maintained a robust order book valued at £3.8bn, with significant future work secured.
- Strategic emphasis on infrastructure, including water and defence, has underpinned their success.
Galliford Try has successfully reported a noteworthy turnover of £1.8bn for the year ending 30 June 2024. This achievement aligns with their strategic focus on public and regulated sectors, positioning them as a significant player in the construction industry. The result is not only indicative of robust business operations but also highlights their operational strength and financial oversight.
The company achieved a pre-tax profit of £32.7m, which signifies a 39.7% increase compared to the previous year’s figure of £23.4m. This substantial growth in profitability underscores the efficiency of Galliford Try’s strategies, which include a disciplined approach to project selection and a strong risk management culture among senior leaders.
Financial stability at Galliford Try is further evidenced by their reported year-end cash position of £227m, with no debt and no pension liabilities. Such financial health allows the company to explore growth opportunities, reflected in their ongoing commitment to returning value to shareholders through a £24.2m dividend and a share buyback programme up to £10m.
Galliford Try boasts an impressive order book valued at £3.8bn, securing 92% of their work for 2025 and 70% for 2026. This forward-thinking approach ensures a pipeline of projects, providing stability and growth potential in an unpredictable market. Significant contracts in 2024, such as those within the Anglian and Wessex water frameworks, further highlight their strategic focus on infrastructure.
The company’s diversified project portfolio includes significant defence contracts valued at £110m, alongside high-profile building and civil projects like Brent Cross and the Aylesbury road project. Such diversification underscores Galliford Try’s ability to adapt and thrive in various sectors, enhancing their competitive edge and resilience.
Looking ahead, Galliford Try has set ambitious targets, including achieving a turnover of £2.2bn and a 4% margin by 2030. Their outlook remains positive, buoyed by government priorities in infrastructure and affordable housing, areas where the company is well-positioned to excel.
Despite industry challenges, analysts have lauded Galliford Try’s performance, noting their capability to skillfully navigate economic pressures. Analysts from Begbies Traynor emphasised the firm’s adeptness in leveraging the government’s infrastructure focus, a strategy that maintains their competitive advantage even as the sector faces challenges related to rising insolvencies.
The strategic focus and robust financial health have positioned Galliford Try for continued success amidst economic challenges.
