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Galliford Try PLC 18 May 2011 GALLIFORD TRY SECURES GBP38 MILLION OF HEALTH AND CARE PROJECTS Galliford Try plc, the housebuilding and construction Group, has secured five projects in the health and care sectors totalling GBP38 million. The first contract worth GBP12.9 million will see Galliford Try undertaking the development of a 54 bed Extra Care community comprising 42 assisted living apartments and 30 independent living units in Surrey for RMH Group. Galliford Try will carry out the extension and alteration of an existing Grade II listed building, along with the demolition of existing buildings and the construction of new buildings. Completion of the project is expected in July 2012. The second project is as preferred bidder on a GBP12.4 million project to build Norwood Hall Joint Services Centre in south east London for London Borough of Lambeth in partnership with Building Better Health - under the Lambeth Southwark Lewisham LIFT. The building will be designed to BREEAM's Healthcare Excellent rating. Following financial close, work will start on site in October 2011 and completion is expected by March 2013. Galliford Try has also reached financial close on three LIFT projects worth a total of GBP12.7 million in, Cheshire for Renova Developments. The projects comprise the construction of Warrington town centre health centre and Castlefields primary care resource centre along with the internal fit out of Orford Park primary care resource centre. All three projects will achieve a BREEAM Excellent rating. Greg Fitzgerald, Chief Executive, commented: "We are delighted to secure these projects which build on our extensive expertise in building health and care facilities across the UK, for both public and private sector clients."
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THURSDAY 5 MAY 2011 INTERIM MANAGEMENT STATEMENT Galliford Try plc, the housebuilding and construction group, today issues its interim management statement for the period 1 January 2011 to 4 May 2011. Greg Fitzgerald, Chief Executive, commented: "Against a background of challenging economic conditions in both the housebuilding and construction sectors, the housing market has exceeded our expectations throughout the spring selling season and we have continued to benefit from the strong southern bias of our expansion plan. Construction has also benefited from encouraging contract awards in the period and strong cash balances that lead us to expect the Group's gearing will be minimal at the financial year end. We therefore now expect full year results to be significantly ahead of the current range of market estimates and remain confident in delivering the objectives of our expansion plan during the next financial year." Highlights: Housebuilding -- Continuation of improved market conditions through the spring selling season, with sales rates substantially up on the first half and sales prices remaining stable. -- GBP532 million of sales reserved, contracted or completed, of which GBP363 million is for the current financial year to 30 June 2011 (2010: GBP443 million and GBP308 million). -- Cancellation rate reduced to 16%, below historic average. -- 100% of plots secured for 2012 production, all with a detailed planning consent. 68% of plots for 2013 secured. -- 67% of 10,150 plot landbank secured at current market values (2010: 50% of 9,700). -- GBP347 million Gateshead award underlines Industry leading position in affordable housing and regeneration. Construction -- 3% increase in order book during the period to GBP1.8 billion (31 December 2010: GBP1.75 billion). -- GBP790 million Forth Road Crossing project secured by Galliford Try consortium. -- Cash balances continue to be better than forecast. -- 72% of next financial year's revenues secured (2010: 68%), market in London and the south east showing some improvement.
Galliford Try PLC 30 March 2011 GALLIFORD TRY CLOSES GBP58 MILLION ORKNEY SCHOOLS PROJECT Galliford Try, the housebuilding and construction group, is delighted to announce that, following its appointment as preferred bidder announced in January, its Scottish construction business, Morrison Construction, has reached contract close with Orkney Islands Council for its GBP58 million Schools Investment Programme. The project which is being funded with support from the Scottish Government and advice from the Scottish Futures Trust, will see work across four main facilities. These are a new grammar school at Kirkwall including an arts theatre, halls of residence at Papdale, a new primary school in Stromness and a new swimming pool and squash courts at the Pickaquoy Centre along with three all weather pitches. Construction starts this week on three of the four projects. The facility at Papdale will commence in 2012. As part of the contract Galliford Try Facilities Management will provide a range of services for 10 years including building and grounds maintenance. Greg Fitzgerald, Chief Executive of Galliford Try, commented: "We are pleased to have been awarded this important contract with the Orkney Islands Council. We look forward to working closely with all the stakeholders to develop high quality facilities which will provide excellent benefits to the whole community."
Galliford Try PLC 28 March 2011 GALLIFORD TRY SECURES GBP38.5 MILLION RESIDENTIAL PROJECT Galliford Try plc, the housebuilding and construction group, has been awarded a GBP38.5 million contract to build apartments and commercial units at Wandsworth Riverside Quarter in south west London for Frasers Property UK Ltd. Galliford Try will undertake the design and construction of three mixed use buildings including 121 luxury apartments, associated affordable apartments and commercial space along with car parking as part of Phase 3A of Riverside Quarter, a prestigious residential project overlooking the River Thames. Completion is expected by January 2013. Galliford Try Chief Executive, Greg Fitzgerald commented: "We are delighted to secure this project which will build on our extensive expertise and experience of delivering quality, mixed tenure projects in the capital."
GALLIFORD TRY JOINT VENTURE APPOINTED ON GBP790 MILLION FORTH REPLACEMENT CROSSING CONTRACT IN SCOTLAND Galliford Try, the construction and housebuilding group, announces that its Scottish infrastructure business, Morrison Construction, has been selected as preferred bidder, as part of the Forth Crossing Bridge Constructors (FCBC) joint venture, by Transport Scotland to design and construct the Forth Replacement Crossing in Scotland. Morrison Construction, together with its joint venture partners Hochtief, Dragados and American Bridge International, will be responsible for a contract worth GBP790 million to design and construct a cable-stayed road bridge over the Firth of Forth immediately to the west of the existing Forth Road Bridge together with new road connections both north and south of the estuary. The new crossing will consist of a dual two-lane carriageway with hard shoulders and will replace the existing Forth Road Bridge as the main route for traffic across the Forth; safeguarding this vital cross-Forth connection in Scotland's transport network. Under current proposals the existing Forth Road Bridge will be retained as a dedicated public transport corridor for buses, cycles and taxis. Greg Fitzgerald, Chief Executive of Galliford Try, commented: "We are delighted to be involved with this hugely significant construction project - Scotland's single largest transport project for a generation - to maintain a fundamental link across the Firth of Forth while providing better connections to the transport network. Galliford Try has a strong presence in Scotland through Morrison Construction and today's announcement gives us an opportunity to further demonstrate our technical expertise and strengthen our existing relationship with Transport Scotland. We look forward to working with our well-known international partners to successfully deliver this major engineering scheme." The FCBC joint venture will shortly commence the detailed design in readiness for the commencement of construction work on site later this year, with the bridge opening to traffic in 2016.
In and out of these a couple of times now, and currently out. I have checked RNS's and other sources and can't find any info' on why they are buying the shares back, just that they are. I'd of the thought the SP would keep moving northwards as they buy more but doesn't seem to want to. I know they had a 100% increase when operations were resumed but thought it would be onwards from there. Maybe in time!
Afternoon Do you know the 'buy back' plans? Are they planning on buying them all? or just a set amount?
Good question year high at 380 so may struggle to move highe than that but pay good divi so ok for longer term hold. if you are trading it 15% is good profit
GALLIFORD TRY SECURES GBP48.5 MILLION ELGIN FLOOD ALLEVIATION CONTRACT Galliford Try plc, the housebuilding and construction group, announces that its Scottish business, Morrison Construction, has been awarded a GBP48.5 million construction contract which is part of the GBP86 million Moray Council project to upgrade flood defences at Elgin in Northern Scotland. This work is part of the wider GBP160 million Moray Flood Alleviation scheme combining the expertise of The Moray Council, Royal Haskoning, Morrison Construction and EC Harris to solve flooding issues in Moray. The work will alleviate flooding in Elgin by recreating the flood plain and constructing flood defences. The project involves creating a sustainable flood corridor along the River Lossie and relieving constrictions to water flow enabling high flows of water to be conveyed safely through the town through the use of a combination of embankments, walls and lowered floodplains. The contract is due to start on 4 April 2011, with completion in 2015. Greg Fitzgerald, Chief Executive of Galliford Try, said: "We are delighted to strengthen our relationship with The Moray Council by securing this important contract to deliver a fourth scheme through our existing construction partnering arrangement."
http://www.advfn.com/p.php?pid=nmona&article=46578602&symbol=LSE%3Agfrd Highlights -- 29% growth in pre-exceptional profit before tax -- GBP174 million construction cash balance contribution to better than forecast GBP30.7 million net debt -- 36% growth in interim dividend Operational Highlights -- On track to deliver housebuilding expansion plan objectives in 2012 -- 100% of plots for planned production in 2012 now secured, with 65% of 10,000 plot landbank acquired at current market values -- 19% increase in sales currently reserved, contracted or completed at GBP442 million (last year: GBP370 million), with encouraging increase in sales rate since start of 2011. -- 2.5% construction margin demonstrates resilient performance (2009: 2.4%) -- GBP1.75 billion construction order book (2009: GBP1.8 billion), underpinned by our success in securing large water schemes to add to our long term frameworks (1) Group revenue excludes joint ventures. 'Revenue' where used in the statement includes share of joint ventures. (2) In 2009 the Group incurred a net exceptional charge of GBP6.8 million Greg Fitzgerald, Chief Executive, commented: "We are currently on track to deliver the objectives of our three year housebuilding expansion plan during the next financial year. The spring selling season remains crucial, and although it is too early to judge whether it will be sustained, the improvement in our sales rate during the first few weeks of 2011 is encouraging. Our strategy for managing our construction business in challenging times is working well and the underlying results give us confidence that we will be able to grow the business again when markets improve. Although the economic outlook is still uncertain, the board is encouraged by the group's performance and progress in the first half of the financial year, and is confident in its strategy for delivering the objectives of its expansion plan."
Griffin Mining Limited ("Griffin" or the "Company") is pleased to report an increase in production at its Caijiaying zinc-gold mine in China in the year ended 31st December 2010 despite the suspension of operations for almost 4 months at Caijiaying from September to December 2010. In summary: -- 389,496 tonnes of ore was processed, compared to 276,880 tonnes in 2009, a 40.6% increase; -- 22,044 tonnes of zinc metal in concentrate was produced, compared to 17,167 tonnes in 2009, a 28% increase; -- 7,067 ounces of gold in concentrate was produced, compared to 3,726 ounces in 2009, a 90% increase; -- 157,679 ounces of silver in concentrate was produced, compared to 89 222 ounces in 2009, a 77% increase; and -- 690 tonnes of lead in concentrate was produced, compared to 500 tonnes in 2009, a 38% increase. Commissioning of the newly expanded processing facilities to process in excess of 750,000 tonnes of ore per annum has been virtually completed. Mining and haulage of ore has also been increased to meet the expanded processing capacity of the mill. Mladen Ninkov, Griffin's Chairman, commented: "Despite the suspension of activities at Caijiaying in September through early December following the deaths of two employees of the mining contractor, Caijiaying still managed to outperform what was achieved in 2009. With increasing metal prices, the completion of the plant upgrade and a full year of operations in front of us, I am looking forward to significantly better results in 2011."
GALLIFORD TRY SECURES GBP33 MILLION WATER WORK Galliford Try plc, the housebuilding and construction group, announces that it has, in partnership with Imtech Process Limited, been awarded a GBP33m contract by Northumbrian Water to design and build an advanced anaerobic digestion plant at Howdon Sewage Treatment Works in Newcastle-upon-Tyne. The project is due for completion by September 2012. Greg Fitzgerald, Chief Executive of Galliford Try, commented: "We are delighted to secure Northumbrian Water as a new client for our water business. This significant project builds on our track record in delivering both clean and waste water infrastructure projects. Galliford Try is one of the UK's leading infrastructure contractors to the water industry, working under five year asset management programmes as well as on single projects for seven of the country's major water utility businesses."
Cash Net debt at 31 December 2010 was better than forecast at GBP30 million (30 June 2010: GBP76.5 million net cash, 31 December 2009: GBP100 million net cash). The cash balances held by construction remain significant and have reduced less than anticipated in relation to current revenue levels. In housebuilding we have continued with our land spend, particularly in the South East, and increasing the development spend on existing sites where work in progress has built up from the particularly low level that existed at our previous financial year end on 30 June 2010. We plan to be selling from 30% more outlets by 30 June 2011. Outlook While the economic outlook is still uncertain, the board continues to be encouraged by the progress being made in housebuilding and by the resilience of the Group's construction business. While remaining cautious in the short term, the Group is confident in its strategy for delivering the objectives of its expansion plan Cash Net debt at 31 December 2010 was better than forecast at GBP30 million (30 June 2010: GBP76.5 million net cash, 31 December 2009: GBP100 million net cash). The cash balances held by construction remain significant and have reduced less than anticipated in relation to current revenue levels. In housebuilding we have continued with our land spend, particularly in the South East, and increasing the development spend on existing sites where work in progress has built up from the particularly low level that existed at our previous financial year end on 30 June 2010. We plan to be selling from 30% more outlets by 30 June 2011. Outlook While the economic outlook is still uncertain, the board continues to be encouraged by the progress being made in housebuilding and by the resilience of the Group's construction business. While remaining cautious in the short term, the Group is confident in its strategy for delivering the objectives of its expansion plan Cash Net debt at 31 December 2010 was better than forecast at GBP30 million (30 June 2010: GBP76.5 million net cash, 31 December 2009: GBP100 million net cash). The cash balances held by construction remain significant and have reduced less than anticipated in relation to current revenue levels. In housebuilding we have continued with our land spend, particularly in the South East, and increasing the development spend on existing sites where work in progress has built up from the particularly low level that existed at our previous financial year end on 30 June 2010. We plan to be selling from 30% more outlets by 30 June 2011. Outlook While the economic outlook is still uncertain, the board continues to be encouraged by the progress being made in housebuilding and by the resilience of the Group's construction business. While remaining cautious in the short term, the Group is confident in its strategy for delivering the objectives of its expansion plan
With our strong southern bias and minimal dependence on consortium sites prices achieved have continued to be at or slightly above our expectations and our average selling price on private sales was up 4% at GBP204,000 (2009: GBP197,000). Due to a higher proportion of lower priced affordable homes completed in the period, the average selling price for affordable sales was GBP110,000 (2009: GBP131,000) leading to a combined average selling price of GBP178,000 (2009: GBP181,000). Good land opportunities continue to be available. Galliford Try's expertise on working with local communities and planning authorities to obtain planning consents on land secured on a conditional basis remains an important factor in providing future development sites. Our total land bank at 31 December 2010 is 9,500 plots (2009: 8,800) of which 5 900 plots, or 62% of our total landbank, have been acquired under current market conditions, compared to 36% a year ago. Based on our strict financial criteria for land acquisitions, we have 2,700 plots with terms agreed in the pipeline. We are now preferred bidder on development opportunities in all three regions of the Homes and Communities Agency's delivery partner panels, demonstrating our industry leading presence in affordable housing and regeneration across the country. We also anticipate that the Government's designation of up to 80% of open market rent as affordable housing will support development levels, sustaining both pricing and sales volumes in the sector. Construction Our focus has been on maintaining the quality and sector spread of our order book during challenging market conditions. At 31 December 2010 the order book stood at GBP1.75 billion, the same level as a year ago. 40% is in the regulated sector, 49% in the public sector and 11% in the private sector. We have been encouraged by the projects we have continued to secure in those sectors dependent on public finance, particularly in health and in education. In the period we were appointed on the GBP300 million south east hub for Scottish NHS, the GBP50 million Halton Building Schools for the Future and the GBP57 million Orkney Schools investment programme. We have a number of significant commercial sector building contracts in negotiation, particularly in London and the South East. In water, the AMP5 five year framework programmes that we secured last year are now building up revenue levels well as projects start to come on stream. We are also benefitting from our ability to secure extra work on top of the frameworks, such as the GBP60 million Beckton Waste Water treatment works for Thames Water which added to the GBP280 million already secured by our construction joint venture. Cash Net debt at 31 December 2010 was better than forecast at GBP30 million (30 June 2010: GBP76.5 million net cash, 31 December 2009: GBP100 million net cash). The cash balances held by construction remain significant and have reduced less than anticip
TRADING UPDATE Galliford Try plc, the housebuilding and construction group, today provides the following update on trading for the half year ended 31 December 2010. The group expects to announce its results for the half year on 23 February 2011. Highlights -- Housebuilding -- 28% increase in total housing completions to 851 units; 779 net of joint venture partners' share (2009: 663 and 638). -- 11% increase in total housing sales reserved, contracted and completed at GBP359 million (2009: GBP324 million). -- 8% increase in total landbank to 9,500 plots (31 December 2009: 8,800 plots). -- 62% of landbank now secured at current market values, (31 December 2009: 36%). -- Selected as preferred developer on projects in all three HCA delivery partner panel regions. -- Construction -- GBP1.75 billion order book maintained (2009: GBP1.75 billion). -- 40% of order book in regulated sector, 49% in public and 11% in private maintains a quality spread of work. -- 96% of projected revenue for current financial year secured with 58% for year to 30 June 2012 (31 December 2009: 92% and 54% respectively). Greg Fitzgerald, Chief Executive, commented: "While the economic outlook is still uncertain, the board continues to be encouraged by the progress being made in housebuilding and by the resilience of the Group's construction business. While remaining cautious in the short term, the Group is confident in its strategy for delivering the objectives of its expansion plan." For further enquiries please contact: Galliford Try - Greg Fitzgerald, Chief Executive 01895 855001 Frank Nelson, Finance Director Tulchan Communications - Mal Patel, Matthieu Rousselier 020 7353 4200 Housebuilding Total sales reserved, contracted or completed of GBP359 million are up by 11% compared to a year ago. GBP238 million is for the current financial year to 30 June 2011, representing 63% of projected sales for the year (2009: GBP235 million, 75%). Our sales in the first half have been achieved from a similar number of outlets to last year. The second half is expected to benefit from a significant increase in the number of active selling sites over the next six months from the current level of 65 to over 85 by the end of the financial year in June 2011, giving us the outlets projected in our three year expansion plan. Following the encouraging sales volumes achieved during the first quarter, the market did not benefit from the historic autumn seasonal upturn. It then remained subdued for the rest of the first half of our financial year, exacerbated by the adverse weather conditions across our operating areas in December. Mortgage availability remains the most serious constraint to sales volumes, and we continue to make controlled use of shared equity and part exchange sales incentives. Our cancellation levels are currently running at 20%, close to the long term average. With our strong southern
GALLIFORD TRY SECURES GBP30 MILLION OF AFFORDABLE HOUSING WORK ACROSS DELIVERY PARTNER PANEL'S THREE REGIONS Galliford Try plc, the housebuilding and construction group, has secured three regeneration projects totalling GBP29.9 million through the Homes and Community Agency's Delivery Partner Panel across all three of its regional clusters. The first project which in the Southern cluster and is worth GBP18.4 million will see Galliford Try build 137 homes and a commercial unit in Camborne, Cornwall for the Homes and Communities Agency through the DPP southern Cluster. All homes will be built to Code for Sustainable Homes Level 4 with work starting on site in July 2011 and completion expected by December 2013. In the Central Cluster Galliford Try has been appointed preferred bidder through the HCA's central Delivery Partner Panel Cluster on Birmingham Public Land Initiative South, a GBP9 million project for Birmingham City Council which will involve building 79 homes. Each home will be built to Level 4 of the Code for Sustainable Homes. Work on site will start in March 2011 and completion is expected in May 2012. Finally within the Northern Cluster, Galliford Try has secured a GBP2.5 million contract to build 25 affordable homes and homes for older people in Carlisle Street, Gateshead for Gateshead Borough Council. Work will start on site in March with expected completion in Spring 2012. Galliford Try Chief Executive Greg Fitzgerald commented: "Securing these three projects across the three Delivery Partner Panel regions demonstrates the value of our position on the Homes and Communities Agency's Delivery Partner Panel and re-enforces our leading market position in affordable homes and regeneration." Steve Carr, head of economics and new business at the Homes and Communities Agency said: "The Delivery Partner Panel is helping to ensure the whole procurement process is more efficient and cost effective for both the HCA and other organisations using the panel. We have received extremely positive feedback and with the procurement process being fast-tracked, public sector organisations are able to make substantial project cost savings by choosing to select developers through the panel rather than follow a traditional procurement route."
GALLIFORD TRY APPOINTED ON GBP57 MILLION ORKNEY SCHOOLS PROJECT Galliford Try, the housebuilding and construction group, is delighted to announce that its Scottish construction business, Morrison Construction, has been selected as preferred bidder for the Orkney Islands Council's GBP57 million Schools Investment Programme. The project which is being funded with support from the Scottish Government and the Scottish Futures Trust, will see a new Grammar School Arts Theatre and halls of residence in Kirkwall, a new Primary School in Stromness, a new Swimming Pool and Squash Courts at the Pickaquoy Centre and three all weather pitches. The programme will see the new facilities being built in the county over the next three years. Under the scheme Galliford Try Facilities Management will provide a range of services for 10 years including building and grounds maintenance. Greg Fitzgerald, Chief Executive of Galliford Try, commented: "We're delighted to build on our experience of major education schemes through this key role with the Orkney Islands Council. We look forward to working closely with all our partners and communities to develop high quality facilities which will modernise the provision of local services."
About time!
GALLIFORD TRY SELECTED AS PREFERRED BIDDER ON GBP50 MILLION HALTON BSF Galliford Try plc, the housebuilding and construction group, has been confirmed as construction and investment partner of the Local Transformational Partnership (a consortium of Hochtief PPP Solutions, Galliford Try and Vinci) which has been appointed as the preferred bidder on the GBP50 million Halton Building Schools for the Future (BSF) programme. Following financial close, Galliford Try will carry out the redevelopment of The Grange School in Runcorn and the redevelopment of Wade Deacon High School in Widnes for the Local Transformational Partnership in joint venture with Vinci. Work will commence on April 2011 and completion of construction is expected in May 2013. Galliford Try Chief Executive, Greg Fitzgerald commented: "We are delighted to secure this significant project which reflects our reputation and strong market presence within this sector."