Infrastructure contract framework wins have spurred revenue and profit at tier one contractor Galliford Try in the first half (H1) of its 2025 financial year.<\/p>\n
Turnover at the firm \u2013 ranked 15th in the CN100 2024 table of top contractors<\/a> \u2013 totalled \u00a3923.2m in the six months to 31 December.<\/p>\n This marked a 13 per cent increase on the \u00a3819.1m it posted in H1 2024.<\/p>\n Pre-tax profit increased by 54 per cent to \u00a320m, compared with \u00a313m in H1 2024, the company said in a London Stock Exchange announcement this morning (5 March).<\/p>\n Galliford Try\u2019s<\/a> H1 profit margin ticked up from 2.5 per cent in H1 last year to 2.7 per cent.<\/p>\n Chief executive Bill Hocking told Construction News<\/em> that the group was on track to achieve a margin of 4 per cent by 2030 as per its strategic plan. \u201cWe had an original target of 3 per cent in 2026 and that remains a waypoint on route to our 4 per cent in 2030,\u201d he added.<\/p>\n The order book reached \u00a33.9bn, up from \u00a33.7bn in H1 2024, with 98 per cent of projected FY25 revenue and 81 per cent of FY26 revenue already secured.<\/p>\n \u201cThe vast majority of our work comes through long-term frameworks, and that gives us stability and long-term line of sight,\u201d Hocking said. \u201cCustodial<\/a>, defence<\/a> and education are having real impetus for us.\u201d<\/p>\n Since July 2024, Galliford Try has secured several significant projects, including two building projects in London valued at a combined \u00a387m<\/a>, the \u00a388.9m South East Aylesbury Link Road, and places on major frameworks such as the \u00a33.7bn Wessex Water AMP8 framework<\/a>.<\/p>\n The infrastructure division\u2019s H1 revenue rose by 25 per cent to \u00a3451.7m, while the building division\u2019s turnover grew by 4.8 per cent year on year to \u00a3467.3m.<\/p>\n Galliford Try\u2019s building division also won places on the \u00a3835m NHS North of England Commercial Procurement Collaborative framework in H1.<\/p>\n Net cash stood at \u00a3210m at the end of 2024, similar to its previous H1 total of \u00a3209.2m but down from \u00a3227m in June 2024.<\/p>\n The group has no bank loan debt to repay within 12 months, but it did establish a \u00a325m unsecured three-year revolving credit facility with Barclays, Lloyds Banking Group and the National Bank of Kuwait.<\/p>\n Hocking described the credit facility as \u201cnothing more than good practice\u201d, adding that Galliford Try\u2019s \u201caverage month-end cash has gone up 33 per cent\u201d year on year from \u00a3132.7m to \u00a3176.4m.<\/p>\n \u201cWe want our cash to be within a tramline of between 8 and 12 per cent of our revenues, and that \u00a3176m is just under 10 per cent,\u201d he added.<\/p>\n The company reported a 37.5 per cent increase in its interim dividend per share to 5.5p, up from a 4.0p payout in H1 2024.<\/p>\n