RNS Number : 1700S

Galliford Try Holdings PLC

12 November 2021


Annual General Meeting Statement and Update on Current Trading

Friday 12 November 2021

Galliford Try Holdings plc, the UK construction group, is holding its Annual General Meeting (AGM) at 11:00am today, Friday 12 November 2021 at the offices of Peel Hunt LLP, 100 Liverpool Street, EC2M 2AT.

Update on Current Trading and Outlook

The Group's operations are performing well, as we continue to manage inflation and supply challenges, and maintain a strong cash position with margins in line with the Board's expectations. In September 2021 we set out our sustainable growth strategy. This included refreshed sustainability and financial targets whilst maintaining our strict focus on risk management, contract selection and operational excellence.

As announced on 7 October 2021, and consistent with our sustainable growth strategy, the Group acquired the complementary water operations and specialist water process and control businesses of nmcn plc (in administration). The acquisition provides an excellent strategic fit, an increased order book, complements our existing geography and accelerates our growth through established frameworks, as well as creating further opportunities with new clients. The integration of operations with our existing water business is progressing well.

We are encouraged by the continuing pipeline of new opportunities that align to our strategy and chosen sectors, and the Government's planned investment in infrastructure and economic recovery. In the period since September, we announced our Building business was appointed to the new four-year GBP1.6bn LHC Public Buildings, Construction and Infrastructure PB3 framework which covers projects across all public sector buildings; and our Highways business has been appointed to the GBP3.5bn HE Scheme Delivery Framework. In the private sector our Building business was appointed to build the GBP56m Secklow Gate private rental sector (PRS) scheme in Milton Keynes on behalf of AIG and Abbeygate Developments.

The Board is confident of meeting its objectives for the current financial year and in its plans to deliver strong performance and long-term sustainable value for all stakeholders.

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 
 Tulchan Communications     Victoria Boxhall                    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) Dow Jones Newswires

November 12, 2021 02:00 ET (07:00 GMT)

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