Galliford Try | 1HFY25 Update – Trading ahead of expectations
Galliford Try has released a trading update on its 1HFY25 performance to December which continues to demonstrate the strong progress the company is making towards the 2030 targets it announced last May. Trading is ahead of the Board's expectations and it expects revenue and PBT to be at the upper end of current market forecasts. Consensus estimates were upgraded significantly post the FY24 results with the current upper end of the ranges for revenue and PBT currently standing at £1,835m and £35.4m respectively, 3.5% and 8.3% ahead of the respective FY24 actuals. That performance reflects delivery on the existing order book and wins on a number of key projects and places on strategic frameworks in Water and ranging across the company's business lines including in the higher margin target adjacent businesses. The order book increased to £3.9bn at the end of December (£3.7bn at 31 December 2023).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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