Galliford Try Holdings PLC AGM Statement (1876F)
13 November 2020 - 6:00PM
UK Regulatory
TIDMGFRD
RNS Number : 1876F
Galliford Try Holdings PLC
13 November 2020
GALLIFORD TRY HOLDINGS PLC
Annual General Meeting Statement and Update on Current
Trading
Friday 13 November 2020
Galliford Try Holdings plc, the UK construction group, is
holding its Annual General Meeting (AGM) at 11:00am today, Friday
13 November 2020 at Galliford Try Holdings plc, Cowley Business
Park, Cowley, Uxbridge, UB8 2AL. In light of Government measures
around Covid-19, and as set out in the Notice of AGM, the AGM is
being held as a closed meeting and consequently shareholders are
not permitted to attend in person.
Update on Current Trading and Outlook
All our projects have been fully operational since the start of
the financial year on 1 July 2020 with productivity at near normal
levels and we are continuing to operate normally during the second
national lockdown.
The Group is performing well, in line with the Board's
expectations, with an excellent first half year average month end
cash position towards the upper end of previous guidance of
GBP125m-GBP145m. The Board expects the Group to return to
profitability in the first half of this financial year and a
resumption of dividend with the interim results.
Our strategy and sector focus mean that the Group is positioned
to emerge strongly from the pandemic, supporting the Government's
planned investment in infrastructure and economic recovery. We
welcome the Government's support for the construction sector
continuing to operate. Our staff, suppliers and clients' health,
safety and wellbeing remain our top priority.
We are encouraged by the pipeline of new opportunities across
our key sectors. A number of recent significant and strategic
contract wins include appointments to:
- lots 3 and 6 of Thames Water's AMP7 GBP590m four-year framework in the London region,
- the GBP105m commercial and PRS development at Monk Bridge for Highline Investments,
- the GBP85m M56 junctions 6 to 8 works for Highways England,
- the GBP60m Winchburgh Schools project in West Lothian for West Lothian Council and
- the GBP50m refurbishment project at 280 Bishopsgate in London for Arax Properties .
The Group's strategy is focused on robust risk management,
sustainable growth, careful cash management and margin progression.
The Group is well capitalised with no debt, no pension liability, a
portfolio of PPP assets, and a strong order book and is making good
progress on its strategic priorities and the financial targets set
out in September 2020, including expected reinstatement of
dividend.
For further enquiries please contact:
Bill Hocking, Chief Executive
Andrew Duxbury, Finance Director
Kevin Corbett, General Counsel
Galliford Try & Company Secretary 01895 855001
James Macey White
Giles Kernick
Tulchan Communications Amber Ahluwalia 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
AGMKKBBQABDDFDD
(END) Dow Jones Newswires
November 13, 2020 02:00 ET (07:00 GMT)
Galliford Try (LSE:GFRD)
Historical Stock Chart
From Apr 2024 to May 2024
Galliford Try (LSE:GFRD)
Historical Stock Chart
From May 2023 to May 2024