Strategic framework wins have set Galliford Try on course to beat last year’s trading performance.
In a financial update released to the stock exchange this morning (15 January), the tier one contractor said trading for the half-year period from 1 July to 31 December 2024 has exceeded its own forecasts.
Chief executive Bill Hocking said: “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.”
The firm cited its place on the £3.7bn Wessex Water AMP8 programme and a contract announced yesterday (14 January) for a five-year framework covering utilities in Yorkshire, as examples of significant framework wins.
Galliford Try’s order book stood at £3.9bn as of 31 December last year, compared with 2023’s total of £3.7bn.
The firm added that its revenue and profit before tax for the full financial year are expected to be “at the upper end of expectations”.
It now expects to generate between £34m and £35.4m in pre-tax profit from revenue of £1.8bn to £1.83bn for the full year to 30 June 2025.
The contractor said: “We believe the group’s strong balance sheet differentiates our ability to secure high-quality contracts and frameworks, attract a highly skilled supply chain and continue to invest in the business.”
Its trading update also revealed the firm’s cash at 31 December 2024 was £210m compared with £209.2m for the previous year.
Galliford Try was ranked 15th in the CN100 2024 table of top contractors, with turnover of £1.39bn.
It said its business “remains predominantly in long-term frameworks, including an excellent succession of wins in the water sector, providing visibility of secure future workload”.
Galliford Try added that it envisaged “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 firm is due to release its interim results on 5 March.
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Chris Smith