In the year to 30th June 2024 Galliford Try grew revenue by 27% to £1,772.8m (2023: £1,393.7m) and pre-tax profit trebled to £30.9m (2023: £10.1m).
Operating profit before amortisation was up 35% at £29.6m (2023: £21.9m).
The overall results were well balance across the two operating divisions: building and infrastructure.
Galliford Try Building grew revenue by 18% to £938.3m and made an operating profit before amortisation of £24.0m
Galliford Try Infrastructure grew revenue by 39% to £819.8m and made an operating profit before amortisation of £20.1m.
“Our commitment to risk management, careful contract selection and operational excellence underpins the consistent year on year performance and our future prospects,” said chief executive Bill Hocking.
“The UK’s planned, and required, investment in economic and social infrastructure continues to support growth in our chosen markets; and our confidence in the group’s outlook is supported by our carefully selected, sector focused, high quality order book which provides visibility and security of future workloads. We will continue doing what we said we would do, consistently delivering strong performance – supported by our professional teams, a strong balance sheet, solid order book and excellent supply chain and client relationships.”
Galliford Try has no debt or defined benefit pension obligations, and at 30th June 2024 had a cash balance of £227.0m (2023: £220.2m). It operates with daily net cash and the average month-end cash balance in the year was £154.8m (2023: £134.7m). Similar levels of average cash are expected throughout the current financial year.
Galliford Try has announced a further share buyback programme up to a maximum of £10m, reflecting both a corporation tax refund and its confidence in future cash generation.
