(Alliance News) - Galliford Try Holdings PLC on Wednesday said it is trading in line with board expectations as it continued to make operational progress in the first half of its financial year.
The Uxbridge, England-based construction company said all of the group's projects are fully operational in line with the latest UK government and industry Covid guidelines.
Galliford Try said it is making "excellent progress" with the integration of the nmcn water businesses, acquired back in October. It said half-year results will include non-underlying costs related to the acquisition and integration.
Galliford bought the water businesses of nmcn PLC, including the specialist water process and control businesses Nomenca and Lintott, for GBP1.0 million cash, after nmcn fell into administration.
Galliford Try reported that its average month-end cash for the six months ended December 31 was GBP180 million. Its year to June 30 average month-end cash was GBP164 million.
Period-end cash at December 31 was GBP210 million, down from GBP211 million at the same time in 2020.
Galliford Try said recent project wins, including its share of the GBP7 billion Department for Education 2021 construction framework and a GBP56 million private rented sector scheme in Milton Keynes, had contributed to its GBP3.4 billion order book.
The company said it expects to announce its half-year results on March 3.
Shares in Galliford Try Holdings were down 1.0% at 177.00 pence on Wednesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Galliford Try (GFRD)