Galliford Try Hldgs - COVID-19 Update
Galliford Try, one of the
The health and safety of our staff, subcontractors, suppliers, clients and the public is paramount, and in compliance with Government guidance we are implementing additional measures to protect and mitigate risk.
Across the Group we are working with the
In accordance with Government advice on construction works and the Standard Operating Procedures issued by the
Where projects are temporarily suspended, we are planning for the speedy resumption of works as soon as conditions allow. We are continuing to monitor the situation and liaise with our clients, and support our supply chain, on all projects.
We have already taken a number of actions to manage costs in the business and conserve cash, and we will continue to review our resources to match business requirements. The business expects to make use of the Government Coronavirus Job Retention Scheme and other measures announced by the Government in response to the pandemic. The Group is committed to fully supporting all staff and has implemented furloughing of personnel where appropriate.
The scale and duration of disruption to our activities, and the impact on our supply chain, is not yet clear. For this reason, it is too early to quantify the potential impact of Covid-19 on revenue and operating profit, and hence it is not possible at the present time to provide guidance for our financial years ending
Balance sheet and dividend
Galliford Try remains a well-capitalised business with no debt or bank covenants. The Government is continuing to support our sector, for example through the Cabinet Office Procurement Policy Note which provides guidance on payment by public bodies during the Covid-19 outbreak, and 83% of our order book is in the public and regulated sectors. The Group's cash levels remain in line with management's expectations, with average month end cash for the second half of the financial year to
For further enquiries please contact:
0207 353 4200
This announcement contains inside information for the purposes of article 7 of EU Regulation 596/2014. The person responsible for making this announcement on behalf of Galliford Try is
Galliford Try is a trading name of
This information is provided by RNS, the news service of the
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