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Galliford Try appointed to GBP72 million London office remodelling

14th Jul 2023 09:26

(Alliance News) - Galliford Try Holdings PLC on Friday said it was appointed by St Martin's Property Investment Ltd to remodel and refurbish Adelaide House, a "landmark" office in central London.

The Uxbridge, England-based construction company said the GBP72 million project consists of remodelling the nine-storey listed building adjacent to London Bridge to a category A office standard.

Galliford Try also will reconfigure and enhance external areas including the roof and riverside gardens as part of the work.

Chief Executive Bill Hocking said Galliford Try's building team has a "proud" record of delivering "high-quality, sustainable" office spaces within the capital and that the company was delighted to work on this "prestigious location".

Shares in Galliford Try were up 0.7% to 204.38 pence each in London on Friday morning.

On Tuesday, Galliford Try celebrated "good operational progress" as it said it expects to report annual pretax profit at the upper end of forecasts, despite macroeconomic challenges.

Galliford Try said it expects pre-exceptional profit before tax for the financial year that ended June 30 to be at the upper end of current analyst forecasts, which sit between GBP22.1 million and GBP23.3 million. It noted a "strong performance across all operations" this year, reporting pretax profit before exceptional items of GBP19.1 million, and revenue of GBP1.24 billion, up from GBP1.13 billion year-on-year.

Looking ahead, Galliford emphasised a "high-quality" order book of GBP3.7 billion, up from GBP3.4 billion a year prior, including recent major framework wins. It has also secured 92% of revenue for the new financial year, compared to 90% at the same juncture a year prior.

Galliford expects to announce its full annual results on September 20.

By Greg Rosenvinge, Alliance News reporter

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