Galliford Try - FY Results Update
Galliford Try has released its first set of full year results since the disposal of its housebuilding business, closing the door on a successful turnaround. Vitally, it appears to be adhering strictly to the discipline management has emphasised since joining the board. The order book remains strong in a growing market, guidance has been upgraded, the (2x covered) dividend re-instated at 4.7p, and the EV is still laughably small given the net cash position of £164m against a market cap of £200m, with no debt or pension liabilities present. Galliford Try extremely remains cheap despite its 2021 YTD performance.Galliford Try is a housebuilding, regeneration and construction group. Co.'s operating segments are: Linden Homes, which is a housebuilder that develops housing on sites, primarily for first-time buyers and families; Partnerships and Regeneration, which is Co.'s specialist regeneration business that works with registered providers and other partners to increase the supply of housing and build sustainable communities; and Construction, which is organised into the Building, Infrastructure and PPP Investments divisions, and also includes facilities management, telecommunications, dry lining and its national piling specialists, Rock & Alluvium.
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