11th Jul 2024 15:28
(Alliance News) - Galliford Try Holdings PLC on Thursday said it expects to report an annual profit beat, with the construction firm hailing progress towards "strategic targets".
Shares in the company were up 7.9% to 293.50 pence each in London on Thursday afternoon.
The Uxbridge, England-based firm expects full-year revenue and pretax profit before exceptional items to be above the upper end of current analyst forecasts for the financial year that ended June 30.
It puts the analyst forecast range for revenue at GBP1.44 billion to GBP1.64 billion, and the profit range at GBP26.7 million and GBP29.2 million.
At best, that would represent an 18% revenue rise from GBP1.39 billion, and a pretax profit before exceptional items rise of 42% from GBP20.6 million.
Looking ahead, Galliford said it continues to see a strong pipeline of new opportunities across its chosen sectors.
Chief Executive Bill Hocking comments: "We expect to report another year of strong performance across all our operations with increased revenue and profit as we continue to progress our updated sustainable growth strategy to 2030."
In May, it set a target for annual revenue in excess of GBP2.2 billion by 2030.
It expects to announce annual results on September 19.
By Eric Cunha, Alliance News news editor
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