Firm says net cash also on the rise
Galliford Try has upgraded its profit forecast for the year with the firm saying it expects its bottom line to now be 5% above previous estimates.
Analysts had been expecting revenue at the firm, which will release interim results on 6 March, to be between £1.43bn and £1.49bn for the year to June 2024.
But this is now set to be 5% higher with profit due to rise by a similar amount. Analysts had been expecting pre-exceptional pre-tax profit to be somewhere between £25.2m and £28.1m for the full year.
Galliford Try’s average month-end net cash for the six months to December 2023 was £149m, compared to £135m for the year to June 2023.
The firm’s order book, which has been bolstered by several build-to rent wins, was up £200m from last time to £3.7bn for the six months to December 2023.