Galliford Try Holdings PLC - Uxbridge, England-based construction company - Trading in the first half of its financial year, the six months that ended December 31, was in line with board expectations. Order book stands at GBP3.5 billion, giving good forward visibility, it says.
Cash totals GBP195 million on December 31, down from GBP211 million a year before, in line with expectations after the capital returns and acquisitions made last year. Purchases in the recent half-year included MCS Control Systems and Ham Baker for Galliford's Environment division. Has bought back 2.5 million shares for GBP3.9 million as part of the GBP15 million programme launched in September.
"Performance in the first half of the financial year has demonstrated good progress against our strategic objectives and provides confidence for the full year," says Chief Executive Bill Hocking.
Interim results will be issued on March 8.
Current stock price: 163.88 pence, down 0.9% in London on Wednesday afternoon
12-month change: down 8.3%
By Tom Waite, Alliance News editor
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Galliford Try (GFRD)