Contractor says figure achieveable by 2030

Galliford Try is targeting an industry-beating 4% margin by 2030, the firm announced this morning.

The contractor outlined its growth strategy by 2030 which includes raising margins from 3% to 4% and seeing turnover jump by £800m to £2.2bn.

It said: “Higher margin opportunities will come from adjacent markets including affordable homes, capital maintenance and asset optimisation within water, green retrofit, Private Rented Sector (PRS) and the group’s specialist services businesses.”

Bill Hocking

Bill Hocking says the 4% margin figure can be achieved by 2030

The firm has previously said it will move back into affordable homes work after an agreement not to build any social housing following the sale of its Linden Homes business to Vistry lapsed at the beginning of last year.

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Chief executive Bill Hocking said: “Our updated strategy to 2030 reflects the Group’s strong performance since 2021 and is designed to continue the Group’s disciplined growth, focusing on higher margin opportunities, as well as provide long-term sustainable value for our stakeholders.”

Earlier this year, Galliford Try delivered an improved set of interim figures with revenue up 21% to £819m and pre-tax profit up 81% to £13m. Average month end cash for the six months to December 2023 was flat at £150m. Its full-year figures for the year to June are due out in September.