Galliford Try Holdings PLC trades online, strong balance sheet

Chief Executive Bill Hocking said he was pleased with the company’s first-half performance

Galliford Try Holdings PLC (LSE:GFRD) said it was doing well, with trading in line with expectations and its sustainable growth strategy.

Financially, the construction group is on solid footing as it generated average month-end cash flow in the six months to December 31 of £180m, down from £164m. He left the period with £210million in cash.

The backlog, meanwhile, stands at £3.5bn, compared to £3.3bn reported in September’s final results.

Recently won projects include Galliford’s share of the Department for Education’s £7billion 2021 construction framework and the £55million Galashiels Community Campus for the Scottish Borders Council.

Finally, the group said it was making “excellent progress” with the integration of nmcn’s water activities acquired in October.

Galliford chief executive Bill Hocking said he was pleased with the company’s performance in the first half.

“We have made great progress on our strategic objectives. Our recent acquisition of nmcn’s water business, perfectly aligned with our strategy, provides a significant opportunity for the group, our water sector and our associated customers.

“With our great people, strong balance sheet, market-leading positions and high-quality backlog, we are well positioned to deliver strong future performance and long-term sustainable value for all stakeholders.”

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