Galliford Try Holdings PLC Trading Statement (2245M)
20 January 2021 - 6:00PM
UK Regulatory
TIDMGFRD
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 GBP158m (six months to 30 June 2020: GBP141m). The Group has a
PPP asset portfolio, no debt and its period-end cash at 31 December
2020 was GBP209m (30 June 2020: GBP197m).
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 GBP3.3bn (H1 2020: GBP3.2bn), benefitting from recent
contract awards which align to our strategic focus. Notable awards
include Thames Water's GBP590m AMP 7 framework, our appointment to
the GBP10.5bn NHS Shared Business Services framework and our
appointment to the GBP2.1bn 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:
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 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.
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END
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