Galliford Try FY profit, revenue seen ahead of analysts' expectations

(Sharecast News) - Construction group Galliford Try said on Wednesday that full-year profit and revenue were set to be ahead of analysts' expectations. In an update on trading for the year to 30 June, it said the strong performance reported at the half-year results, notably in its water and highways businesses, continued through the second half of the year.

As a result, it now expects full-year revenue and adjusted pre-tax profit "slightly" above the upper end of current analyst forecasts of between £1.86bn and £1.89bn and £40.1m and £41.6m, respectively.

Galliford said the stronger trading is expected to deliver further margin progression towards its 2030 sustainable margin target of 4% and previously-communicated margin target of 3% in 2026.

Chief executive Bill Hocking said: "I am delighted that all our operations continued to perform strongly throughout the second half of the year and we expect to report another year of increased revenue and profit in September.

"Our balance sheet strength and reputation continue to be key to all stakeholders. We welcome the Government's commitment to invest in improving the UK's social and economic infrastructure and affordable housing.

"As a UK only contractor, our confidence in the future is supported by our high-quality order book as well as a long-term pipeline of future opportunities in key sectors as supported by the investment proposals in last month's Spending Review and UK Infrastructure Strategy plans."

At 0900 BST, the shares were up 3.3% at 433.90p.