Firm still talking to government about taking over jobs from collapsed ISG
Galliford Try issued an upbeat interim trading update this morning, saying it was on track to see full year profits jump more than 10%.
The firm, which is believed to be in talks with the Ministry of Justice about taking over some of collapsed contactor ISG’s prison jobs, said analysts were expecting pre-tax profit for the year to June to be between £34m and £35.4m – up from the previous figure of £31m. Revenue for the period is expected to edge up from last year’s £1.8bn.
Chief executive Bill Hocking said: “Encouraged by our performance in the first six months of the year and the robust outlook, our expectations for the full year to June 2025 have improved accordingly.”
In its update for the six months to December 2024, the firm said trading was ahead of expectations with average month-end cash in 2024 standing at £176.4m, up from £154.8m at the year-end in June.
It added: “We believe the Group’s strong balance sheet differentiates our ability to secure high quality contracts and frameworks, attract a highly skilled supply chain and continue to invest in the business whilst providing incremental returns to shareholders.”
The firm’s order book at the period end was up £200m to £3.9bn. Galliford Try is due to release its half year results on 5 March.
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