Galliford, Boot and T Clarke order books defy downturn

Grant Prior 11 years ago
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A slew of City trading statements this morning showed three leading contractors confident about their forward order books despite rising fears over the economy.

Galliford Try led the charge confirming it has secured 95% of its projected work for the year to June 2012 and 58% for the 12 months to June 2013.

Those figures are up on last time when the firm had 91% and 55% of work respectively in the bag.

But Galliford Try’s construction order book is down to £1.6bn from £1.75bn this time last year as the firm refuses to get involved in ultra-low bids to maintain turnover.

The statement said: “Construction is benefitting from its long term frameworks, particularly for the water industry, during the current more challenging markets.”

Henry Boot has also secured 95% of its predicted construction turnover for 2011 and expects to secure 60% of 2012’s work by the end of the year.

But the firm warned: “Whilst this is in line with our normal expectation, we still remain cautious regarding the amount of traditional construction work, at an acceptable margin, that will arise in 2012.”

M&E specialist T Clarke said its forward order book stands at £187m compared to £180m last time.

The firm said: “In the short term there is no doubt that conditions in the construction sector will remain bumpy and we will continue to manage the business on the basis that market conditions will remain tough.”

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