Last checked at 15 Jan 2018 11:04
15 January 2018
Galliford Try plc
Joint Venture with Carillion plc
Galliford Try plc (the "Group") notes the announcement by Carillion plc this morning. The Group is in joint venture with Carillion and Balfour Beatty on the £550 million Aberdeen Western Peripheral Route contract. The terms of the contract are such that the remaining joint venture members, Balfour Beatty and Galliford Try, are obliged to complete the contract. Our current estimate of the additional cash contribution outstanding from Carillion to complete the project is £60-80 million, of which any shortfall will be funded equally between the joint venture members.
The companies will discuss the position urgently with the Official Receiver of Carillion and Transport Scotland, to minimise any impact on the project.
Galliford Try has no other significant contracts or projects with Carillion.
The Group will announce its Half Year Results on 14 February 2018.
For further enquiries please contact:
Galliford Try
Peter Truscott, Chief Executive 01895 855001
Graham Prothero, Finance Director
Tulchan Communications
James Macey White 020 7353 4200
Martin Pengelley
Elizabeth Snow
Notes to editors
Galliford Try is listed on the London Stock Exchange and is a member of the FTSE 250. Housebuilding - through our Linden Homes business - develops private and affordable homes in prime locations. Galliford Try Partnerships - our regeneration business - delivers mixed-tenure solutions working with housing association, local authority and private sector partners. Operating as Galliford Try and Morrison Construction, our Construction business carries out building and infrastructure projects with clients in the public, private and regulated sectors. At the end of the last financial year to 30 June 2017, the Group generated revenue of £2.8 billion.