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Galliford Try revenue boost

cash

Galliford Try has secured two-thirds of its projected construction revenue for 2016/17, it revealed this morning. 

The hybrid firm told the City it had lined up 66% of its expected construction income for the 12 months to 30 June 2017.

In a trading update ahead of its half-year results, it also said it had 98% of the current financial year’s revenue secured for the contract building part of the business.

Galliford Try said its construction order book stood at £3.7bn at the end of 2015, up from £3.2bn at the same point a year earlier.

Chief executive Peter Truscott said: “I am delighted to report that all of our businesses continued to trade well in the first half of the year to 30 June 2016.

“Market conditions have remained positive, with build cost increases stabilised to a manageable level.

He added: “In construction, our order book remains strong, with good visibility on projected revenue for the rest of this year and next.

“It is now two years since Galliford Try adopted its clear plan for disciplined growth to 2018. In my first few months as chief executive, I am happy that these are the right medium-term targets. I am working with each of the businesses to ensure we achieve these, and to consider the longer term aims.”

Truscott said the firm was in a strong position to deliver results in line with expectations.

 

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