Galliford Try Holdings PLC - construction firm based in Uxbridge - Profit for half-year ended December 31 shrinks to just a quarter of prior year at GBP4.1 million from GBP16.6 million, though swings from a GB5.6 million pretax loss pre exceptional items of GBP22.2 million. There were no exceptional items in the 2021 financial half-year, while exceptional items relating to a settlement, housebuilding divisions disposal and associated professional fees, and the Covid-19 pandemic were reported the year prior.
This as revenue falls 19% to GBP541.7 million from GBP668.2 million, or GBP636.2 million pre-exceptional, in line with the company's expected performance. Galliford notes that: "The prior period figure relates only to the continuing business, following the demerger of our housebuilding business in January 2020." Declares 1.2 pence per share interim dividend, having paid no dividend the prior year.
Expects to benefit from "strong weighting in the public and regulated sectors" as government increases construction and infrastructure spending.
Chief Executive Bill Hocking: "I am confident for the future. Our strategy remains focused on sustainable growth, careful cash management and margin progression to drive long-term value creation."
Current stock price: 140.25p; down 4.9%
Year-to-date change: up 13%
By Anna Farley; annafarley@alliancenews.com
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Galliford Try (GFRD)