Chief executive Bill Hocking said prospects ahead for Galliford Try were good after significant contract and framework wins.

These included the YORCivil four-year major framework for Sheffield Council, AMP7 for Yorkshire Water and Southern Water, the A47 and A303 improvement works for the highway business.

In the private sector, the firm has secured the prestigious Project Nash development in central London for the Portman Estate.  

In a first-half trading update, he said: “The successful completion of the disposal of the housing and partnerships divisions means Galliford Try is now a well-capitalised and focused UK construction group.

“Our robust financial position combined with market-leading positions in our chosen sectors means that we are strongly positioned for future disciplined growth.

“I am very excited about the future opportunities for Galliford Try. There is good momentum in the business, reflected by a number of significant wins through the first half of the year and the strength of the high-quality order book.”

The completed deal for its homes business with Vistry Group, leaves Galliford Try well-capitalised.

He predicted average month-end cash balances for the second half of the financial year would be in excess of £100m.

He added that the construction group expected annual performance to be weighted to the second half of the financial year in June due to both market uncertainty and the settlement of certain claims in the first half of the year.