Galliford Try | 1HFY25 results – Increased confidence in FY25
Further to its positive trading update, Galliford Try has delivered another excellent set of results for the half to December underlined by a 37.5% hike in the interim dividend to 5.5p. The company announced adjusted PBT for 1HFY25 of £20.5m, up 22.0% YoY. Despite the increase in consensus forecasts following the trading statement, management now expect revenue and adjusted PBT to be above the top end of the range of market forecasts which currently stand at £1,835m and £36.0m, respectively. Revenues, adjusted operating profits, and margins increased in both the Building and Infrastructure businesses with the overall divisional adjusted operating margin up 24bps YoY to 2.7%, showing good progress towards the company's 2030 target of 4.0%. The order book ended the period at £3.9bn with 98% of projected FY25 revenue already covered and 81% coverage for FY26.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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