Galliford Try Holdings PLC (LSE:GFRD) chief financial officer Andrew Duxbury speaks to Thomas Warner from Proactive after the UK construction group released a trading update for the second half of calendar year 2023.
Duxbury highlights the company's strong cash position and impressive order book, factors which have combined to prompt the business to increase its guidance for the fiscal year ending June 2024. Guidance was also increased in September 2023.
Duxbury says that the uplift, estimated at 5% in revenue and profit before tax, reflects the company's consistent performance across its business sectors.
Notably, the building business secured an £87 million contract in North London and commenced a development scheme in Cardiff, while their highways and environment divisions also reported significant progress.
Addressing the potential impact of the upcoming UK general election, Duxbury expresses confidence in the company's stability, citing a secure workload that extends beyond the election cycle.
He emphasises the continuity of their projects, regardless of governmental changes, due to the essential nature of their work in various sectors.
Furthermore, Duxbury updates on Galliford Try's Sustainable Growth Strategy first set out in 2021, aiming for a turnover of £1.6 billion and 3% operating margins by 2026, up from £1.1 billion and 2% in 2020.
With significant progress already made, the company plans to revise and extend these targets to 2030, demonstrating their commitment to growth and financial discipline.
