Topic Results
Date 08 Mar 2023
Galliford Try has announced its results for the financial half year period to 31 December 2022, maintaining continued progress towards the 2026 targets set by its Sustainable Growth Strategy.
The Group increased both revenue (up 14%) and profit before tax (up 65% before exceptional items) demonstrating the strong fundamentals of the underlying business, despite a challenging economic environment.
Divisional operating margin improved to 2.3% from 2.2% last year, while there was also an uptick in order book from £3.4bn to £3.5bn. Full year profit is now expected to be at the upper end of analysts’ estimates.
The six-month period also saw the acquisition of MCS Control Systems and Ham Baker, furthering the ambitions of Galliford Try’s Environment business in the capital maintenance and asset optimisation sectors.
Bill Hocking, Galliford Try Chief Executive, commented: “I am pleased with the Group’s performance in the first half of the financial year, delivering increasing revenue, profit and divisional operating margin, as we continue to make good progress against our strategic objectives. Our strong performance is a reflection of our great people and well-established relationships with our supply chain and clients.
“Our strong and high-quality order book, in our chosen sectors, provides visibility and security of future workloads. Together with our excellent people and our strong balance sheet, this gives confidence in our ability to deliver our Sustainable Growth Strategy and continue to provide long-term sustainable value for our stakeholders.”