Galliford Try - HY24 trading statement – expectations raised
Galliford Try has published a positive trading statement for 1HFY24 noting higher trading YoY, ahead of the Board's expectations. With good visibility over 2HFY24, guidance for FY24 has been raised, with revenue and PBT anticipated to be c5% ahead of current market expectations. Given excellent progress to date, Galliford Try expects to update its strategic targets in 2Q calendar 2024, extending them out to FY30. The order book closed the half at £3.7bn (£3.5bn at 1HFY23) and month-end cash for the half averaged c£149m, ahead of guidance. Galliford Try outperformed sharply following the FY23 results and this trading statement should only improve confidence in the group's performance and prospects. Even on the current consensus forecast, Galliford Try continues to trade on undemanding ratings.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.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.