Trading Statement

RNS Number : 2245M
Galliford Try Holdings PLC
20 January 2021
 

Galliford Try Holdings plc

Trading Update

20 January 2021

 

Galliford Try Holdings plc, the UK construction group, today provides an update on trading for the half year period from 1 July 2020 to 31 December 2020. The Group expects to announce its results for the half year on 4 March 2021.

 

Update on Current Trading

 

All our projects have been fully operational since the start of the financial year on 1 July 2020 and, in line with the latest Government and industry guidelines, we are continuing to trade at normal levels through the current restrictions.  The Group is performing well, with trading for the period in line with the Board's expectations. As previously announced, the Board expects to report a return to profitability and a resumption of dividend with its half year results to 31 December 2020.

 

Balance Sheet

 

The Group has maintained a strong cash position, leaving us well placed to manage lockdowns and to continue to support the business.  Average month-end cash for the six months ended 31 December 2020 was £158m (six months to 30 June 2020: £141m). The Group has a PPP asset portfolio, no debt and its period-end cash at 31 December 2020 was £209m (30 June 2020: £197m).

 

Order Book and Outlook

 

We continue to see a strong pipeline of opportunities in our core sectors and in line with our disciplined approach to risk management and contract selection.  Our strong position in the public and regulated sectors positions the Group well to benefit from increasing Government construction and infrastructure spending.  At 31 December 2020 the Group had a high-quality order book of £3.3bn (H1 2020: £3.2bn), benefitting from recent contract awards which align to our strategic focus.  Notable awards include Thames Water's £590m AMP 7 framework, our appointment to the £10.5bn NHS Shared Business Services framework and our appointment to the £2.1bn Construction West Midlands framework.

 

 

Bill Hocking, Chief Executive, commented:

 

"The health, safety and wellbeing of our colleagues is of paramount importance, especially during the current lockdown. Our staff and supply chain's response to the challenges faced in 2020 was exemplary and I am pleased with the trading performance that we have delivered.  Despite the ongoing challenges from Covid-19, our strong balance sheet, market leading sector positions and high-quality order book give me confidence in our future performance."

 

For further enquiries please contact:

 

Galliford Try

Bill Hocking, Chief Executive

Andrew Duxbury, Finance Director

Kevin Corbett, General Counsel & Company Secretary

01895 855001

Tulchan Communications

James Macey White, Giles Kernick, Tom Blundell

 

020 7353 4200

Note to Editors

Galliford Try is a trading name of Galliford Try Holdings plc, a leading UK construction group listed on the London Stock Exchange. Operating as Galliford Try and Morrison Construction, the group carries out building and infrastructure projects with clients in the public, private and regulated sectors across the UK.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTBRGDBDBBDGBC
UK 100

Latest directors dealings