Galliford Try - Quick Take - HY Results
Galliford Try continues to steadily progress towards its £1.6bn revenue and 3% divisional operating margin target, and with its strong pipeline the outlook is highly positive in our view. At the risk of sounding repetitive, the current (£205m) market cap is still below the sum of the £180m average month end cash and the £48.3m of PPAs, which seems unjustifiable to us.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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