Report
Oliver Juggins

Galliford Try - FY22 Results Update - New Consensus

Now includes new consensus. Galliford Try has delivered strong financial and operational results in FY22, well ahead of consensus by most metrics including adj. PBT of £19.1m (+68%) and a divisional operating margin of 2.4%, well on its way to management's 3% target for 2026. It currently enjoys strong momentum, increased stability/much-reduced risk, and a strong balance sheet – this management team is delivering exactly what it has promised since joining. It also enjoys a favourable, inflation-protected outlook and is distributing a combined double-digit percent of its market cap this year through dividends and a surprise buyback.
Underlying
Galliford Try Holdings PLC

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.

Provider
Capital Access Group
Capital Access Group

Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.

Our clients, ranging from AIM to FTSE 100 companies, benefit from our professional, long-term relationships with investors. Not only do we identify and target investors, we contact them directly and relay their views back to clients with analysis, interpretation and advice. This ensures that our clients are in control of their investor engagement. The objective is to improve the reach and engagement with investors, which in turn strengthens the share price.

Analysts
Oliver Juggins

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