Galliford Try PLC - Trading Statement
"The Group continues to deliver a strong operational and financial performance and is making good progress against its growth plans to 2021. Following the successful completion of the recent rights issue the Group is well capitalised with a strengthened balance sheet to support our planned growth.
Partnerships & Regeneration continues to benefit from strong demand and opportunity to grow both its mixed tenure and contracting offering. The business expects to report margin growth driven by market demand, contract wins and our successful geographical expansion.
On the Aberdeen Western Peripheral Route we are making good progress on site, with progressive handover of sections of road under way. We have experienced some further cost pressure, principally from weather delays, which are likely to increase the exceptional charge in the current year. The amount will depend upon progress recovered through the summer, and is expected to be lower than the charge (
Construction's underlying performance continues to improve, while continuing to work through diminishing outstanding legacy contracts. The business is seeing a good level of new project wins and opportunities on its multiple frameworks, whilst maintaining its disciplined approach to bidding.
Cash continues to be well managed, and average net debt has been below the guided figure of
The Group's operating outlook is unchanged and all three businesses remain on track to deliver further profitable growth over the full year. We anticipate achieving a full year result in line with the current range of analysts' expectations2."
· Sales rate of 0.71 per outlet per week since
· Landbank of 11,750 plots (2017: 11,300). All plots secured for 2019 together with 77% of plots secured for 2020.
Partnerships & Regeneration
· Contracting order book of
· Landbank of 2,918 plots (2017: 2,867).
· Continued focus on risk management and cash.
· 71% of next year's revenue secured (2017: 73%).
A conference call for Analysts and Investors will be held at
UK Dial In: 0203 936 1888
International dial-in: Please access www.speakserve.com/numbers to access a full list of International numbers
Room Number: 603325
Participant PIN: 3109
For further enquiries please contact:
Graham Prothero, Finance Director
2. The range of analysts' forecasts with profit before tax after taking into account exceptional items for the year ending
This information is provided by RNS, the news service of the
Quick facts: Galliford Try Holdings Plc
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