Galliford Try Holdings PLC shares rose on Monday as it reported trading in its first half is ahead of both the previous year and company expectations.
The Uxbridge, England-based construction company said it now expects revenue and pretax profit for the full financial year to the end of June 2025 to be at the upper end of current market expectations.
The firm said the analysts forecast range for revenue is between £1.80 billion and £1.84 billion and pretax profit between £34.0 million and £35.4 million.
‘Encouraged by our performance in the first six months of the year and the robust outlook, our expectations for the full year to June 2025 have improved accordingly,’ Chief Executive Bill Hocking said.
Galliford Try shares were up 6.0% to 382.80 pence in London on Wednesday morning.
Trading has benefited from continued project wins and framework participation, the company said.
The group’s order book is up to £3.9 billion at the end of December, from £3.7 billion in the previous year. Most of this is in long term frameworks, including recent wins in the water sector.
‘We also see a good pipeline of opportunities across our chosen sectors, supported by our strong track record and focus on the public and regulated sectors alongside high-quality private clients.’
The average month-end cash for the rolling 12 months to the end of December was £176.4 million, compared to £154.8 million at the end of June.
Period end cash at the end of the calendar year was up 0.4% to £210.0 million from £209.2 million in 2023.
The company said its strong balance sheet allows it to attract a highly skilled supply chain, continue to invest in the business and provide incremental returns to shareholders.
Hocking said: ‘Our strong performance in the first half of the financial year provides increased confidence for the full year.
‘We are pleased with our successes on the new AMP8 frameworks and the opportunities we see across all our chosen sectors. We have excellent people and project teams, a strong balance sheet and a high-quality carefully selected order book.’
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