Galliford Try Holdings PLC on Thursday said it expects to report an annual profit beat, with the construction firm hailing progress towards ‘strategic targets’.

Shares in the company were up 7.9% to 293.50 pence each in London on Thursday afternoon.

The Uxbridge, England-based firm expects full-year revenue and pretax profit before exceptional items to be above the upper end of current analyst forecasts for the financial year that ended June 30.

It puts the analyst forecast range for revenue at £1.44 billion to £1.64 billion, and the profit range at £26.7 million and £29.2 million.

At best, that would represent an 18% revenue rise from £1.39 billion, and a pretax profit before exceptional items rise of 42% from £20.6 million.

Looking ahead, Galliford said it continues to see a strong pipeline of new opportunities across its chosen sectors.

Chief Executive Bill Hocking comments: ‘We expect to report another year of strong performance across all our operations with increased revenue and profit as we continue to progress our updated sustainable growth strategy to 2030.’

In May, it set a target for annual revenue in excess of £2.2 billion by 2030.

It expects to announce annual results on September 19.

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