Galliford Try, the U.K. construction group, has surpassed its own expectations in the first half of the fiscal year, prompting it to raise its full-year forecasts. The company now predicts that its revenue for the year ending June 30 will be approximately 5% higher than current market forecasts, accompanied by a proportional increase in pretax profit.
Positive Outlook for Revenue and Profit
Analysts' projections for the year range from £1.435 billion to £1.49 billion ($1.81 billion to $1.88 billion) in terms of revenue, while adjusted pretax profit estimates fall between £25.2 million and £28.1 million, according to a company-collected consensus.
Strategic Targets Update Scheduled for 2024
Buoyed by its recent performance, Galliford Try is confident that it will update its strategic targets up to 2030 in the second quarter of 2024.
Promising Pipeline of Orders
The construction group continues to observe a strong pipeline of orders across its chosen sectors, ensuring a robust outlook for the future.
Search for New Finance Director Underway
Galliford Try is actively seeking a replacement for its finance director and reports that progress is being made. An update on this matter will be provided in due course.