Galliford Try - HY Trading Update
Galliford Try has today released a trading update for 1H23 confirming trading was in line with board expectations, and the business is “well placed” to deliver on full year expectations. Encouragingly, there was no material impact from supply chain disruptions, and the £3.5bn order book was slightly ahead of the June year end and continues to provide strong earnings visibility. There remains a robust pipeline and the balance sheet remains exceptionally strong, with a portfolio of PPP assets, no pensions liabilities, and no debt. We expect recent buybacks to continue, with c.£11m headroom left of the approved total.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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