Galliford Try FY profits and revenue to beat analysts' expectations

11th Jul 2024 09:36

(Sharecast News) - Construction group Galliford Try said on Thursday that full-year revenue and profit were set to be above the upper end of current analyst forecasts as "strong momentum" reported at the first half continued into the second.

Analysts are expecting revenue and pre-exceptional profit before tax of between £1.435bn and £1.643bn and £26.7m to £29.2m, respectively.

Galliford said the order book stands at £3.8bn, up from £3.7bn a year earlier, with 92% of revenue for the new financial year secured.

Chief executive Bill Hocking said: "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.

"Galliford Try's ability to maintain its balance sheet strength is key to our clients and suppliers as well as our continued success in maintaining a high-quality order book in our chosen sectors. Our confidence in the future is supported by our order book as well as a long-term pipeline of future opportunities."

At 0935 BST, the shares were up 7% at 291p.