Galliford Try expects annual profit at high end of market forecasts

(Alliance News) - Galliford Try Holdings PLC on Thursday said it expects profit for its recently concluded financial year to be at the higher end of market expectations, and has started the new year with a strong order book.

For the year ended June 30, the Uxbridge, England-based construction company expects revenue, pre-exceptional pretax profit and operating margin.

Pre-exceptional pretax profit is set to come in at the upper end of the range of analyst forecasts of GBP16.4 million to GBP18.0 million, the firm said, as its operating margin increases.

Should the company achieve GBP18.0 million, this would be a 58% increase year-on-year from pretax profit of GBP11.4 million in financial 2021, a year when the company reported no exceptional items.

The company reports its enlarged operations continue to progress, following the acquisition of the water business of nmcn PLC back in October.

Galliford Try said its order book stands at GBP3.4 billion, edging up from GBP3.3 billion a year prior, mostly within the public and regulated sector.

Shares in Galliford Try were up 1.1% to 164.00 pence in London on Thursday morning.

"We are making good operational progress in line with our Sustainable Growth Strategy, supporting our financial targets to 2026....We move into the new financial year with confidence and are well placed to deliver strong future performance and long-term sustainable value for all stakeholders," said Chief Executive Bill Hocking

By Elizabeth Winter; elizabethwinter@alliancenews.com

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