15th Jul 2021 10:02
(Alliance News) - Construction firm Galliford Try Holdings PLC on Thursday said it expects to report full year profit towards the upper end of current consensus range.
The range of analysts' estimates for pretax profit for the year ended June 30 is GBP9.0 million to GBP11.2 million, and the company expects to see profit towards the top end of this forecast. This would be a swing from a GBP34.6 million loss in financial 2020.
"Throughout the financial year we have been successful in winning key projects and positions on strategic frameworks. We are encouraged by the pipeline of new opportunities across our chosen sectors, which align to our disciplined approach to risk management and contract selection," the Uxbridge, England-based firm said.
Galliford said its order book stands at GBP3.3 billion, up from GBP3.2 billion a year earlier.
"We are pleased with the good progress we have made. Our people, working off firm foundations of risk management and contract discipline, have delivered strong financial results. We are meeting our objectives of operating sustainably and delivering controlled growth, cash generation and improved margins. The group has an excellent order book and is strongly positioned to contribute to the UK's economic recovery," said Chief Executive Bill Hocking.
Galliford Try expects to announce its results for the full year on 16 September 2021.
Shares in Galliford Try were up 2.2% at 150.21 pence each in London on Thursday morning.
By Amrit Sahota; [email protected]
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