Galliford Try to hit top end of profit forecasts

Grant Prior 8 years ago
Share

Galliford Try is expecting to hit the top end of analysts’ profit forecasts as its hybrid model of housebuilding and contracting continues to pay off.

The firm confirmed in a trading statement today that “profit before tax is expected to be at the upper end of the analysts’ current range of £92.8 – £95.2m” for the full year to June 30.

Galliford Try will unveil its full results in September as revenue across the company recovers to above pre-recession levels.

Housebuilding is gunning along with an average sales price at Linden Homes up 15% to £305,000 while Galliford now has a record land bank of 13,900 plots.

Construction has an improved order book of £1.4bn and strong money management sees cash-in-the bank up to £150m from £132m.

Chief Executive Greg Fitzgerald said: “The market continues to be good across all of our regions.

“We are pleased to have finished the year strongly and expect to deliver another record profit.

“With a solid balance sheet, minimal debt, a record landbank in housebuilding and excellent visibility of work in construction, we are starting the new financial year in a strong position, whilst recognising that challenges remain around the supply chain and converting outline planning permission into detailed consents.”

 

Latest news

WSP to buy consultant RPS Group for £591m

5,000 staff at Oxfordshire based firm to join WSP
10 hours ago

Countryside puts offsite factory up for sale

Offers invited for Bardon plant which is less than a year old
10 hours ago

M&E specialist Spie UK arm returns to profit

French parent group launches a strategic review of UK operations after performance stabilises
10 hours ago

Site boss fined for locking out safety inspectors

Police called to enter site before fire fighters rescue workers stranded on roof
11 hours ago

Rebid starts for £200m M5 junction job

Cost inflation forces retender for £200m junction 10 rebuild near Cheltenham
10 hours ago

New Downing Construction boss named

Andy Thomas takes top job as Ian Orton steps back after 24 years
10 hours ago

Plans in for 600 homes at London Aylesbury estate

Notting Hill Genesis aims to start work next year on phase 2 of Southwark estate rebuild
10 hours ago

Tide gets green light for UK’s tallest modular tower

Volumetric specialist to build 48-storey student skyscraper at Canary Wharf
2 days ago

TopHat cuts losses and aims for profit in three years

Modular specialist investing for future as latest results show £19.4m loss
1 day ago

Story Contracting names next chief executive

Andy Joy to be promoted to CEO as Jason Butterwork becomes vice chairman
1 day ago

Stalled £100m North London build-to-rent tower to start

Essential Living commits to start Swiss Cottage scheme six years after planning OK'd
2 days ago

Bidding starts for Pagabo £1bn medium works deal

Extra small project lot added in framework renewal
1 day ago

Vital funding deal for £50m A38 Midlands upgrade

Work could start early next year on A38 BREP now out to tender
1 day ago

Graham wins £16m National Railway Museum job

Firm seals pre-construction deal as new museum Central Hall gets planning green light
1 day ago

Demolition starts on half-built £48m Taylor Wimpey flats

Furious local residents blast house builder over "unbearable" noise
4 days ago

Civils contractor fined £600k after boy dies in drainage pipe

Workers find seven-year-old who suffocated on housing site
5 days ago

Plan for trio of towers at old Yorkshire Post site

Galliford Try advises on construction plan for Leeds student and build to rent towers
4 days ago

Insolvency to rival inflation as project cost threat

Inflationary pressures likely to peak this year before easing in 2023, but supply chain stress is growing.
4 days ago

B+K starts £300m Sheffield West Bar scheme

Funding deal triggers start on major mixed-use scheme
4 days ago

Willmott Dixon bags £44m Passivhaus leisure centre

Private builder prepares to start Staines-upon-Thames complex
4 days ago

Go-ahead for £160m Cambridge mixed-use scheme

Devonshire Gardens will consist of 70 private rental flats and 120,000 sq ft of offices
4 days ago

Construction buyers report first drop in output for 18 months

Civil engineering worst performing sector
5 days ago

Construction and infra margins hit 3.2% at Morgan Sindall

Contractor picking deals carefully as inflation continues to bite
5 days ago

Morrisroe Group revenue tops £200m

Pre-tax profit halves to £2.7m as cost inflation bites
5 days ago

Kier to start new £400m ‘smart’ prison this autumn

At least 50 ex-offenders will help build new HMP Full Sutton
6 days ago

Former P&R Morson staff to launch legal claim

Former staff of failed Midlands M&E specialist consult with lawyers following administration
5 days ago

Eight firms win big north west MMC housing deal

JV North consortium plans to build 4,000 homes by 2026
5 days ago

Balfour to replace Ringway Jacobs on £176m Bucks highways deal

Balfour to start new eight-year maintenance contract in 2023
6 days ago

O’Keefe suppliers owed £13m despite Byrne rescue

Unsecured creditors to get less than 2p in the pound for their debts
1 week ago

Taylor Wimpey staff to get £1,000 towards fuel bills

All staff earning below £70,000 will receive a one-off payment
6 days ago

Contractor services