In a year-end trading update this morning, chief executive Bill Hocking said he was also confident about the outlook for the year ahead based on a group order book of £3.8bn (2023: £3.7bn).

“We start the new financial year with 92% of revenue secured and with significant investment required in our chosen sectors of the UK’s infrastructure,” he said.

“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.”

Average month-end cash for the year to 30 June 2024 was ahead at £155m compared to £135m previously.

City investor expectations for this year stand around £1.6bn revenue and a pre-exceptionl pre-tax profit of £29m. This is strongly ahead of the previous year’s reported £10m pre-tax profit from £1.4bn turnover.