Andrew Duxbury of Galliford Try discusses their strong financial performance and sustainable growth strategy
Andrew Duxbury, Finance Director of Galliford Try #GFRD discusses their strong financial performance and sustainable growth strategy, on release of their final results, which showed profit before tax above previous guidance at £11.4m compared with a loss in 2020 on £59.7m.
- Profit before tax above previous guidance at £11.4m (2020: pre-exceptional loss £59.7m).
- Divisional operating margin ahead of expectations at 2.0%, showing strong progress towards our margin improvement target.
- Final dividend payment of 3.5p, together with an interim dividend of 1.2p giving a total dividend of 4.7p covered by 2.0x earnings from continuing operations. Policy to increase dividend in line with earnings, with dividend cover expected to be in the range of 2.0 - 2.5 times earnings going forward.
- Cash generative with well-capitalised debt-free balance sheet, average month end cash for the period of £164m (2020: £141m1), PPP asset portfolio of £49m (2020: £41m) and no pension liabilities.
- Positive outlook with high quality £3.3bn order book (2020: £3.2bn) positioned across our chosen sectors.
- Well placed to deliver our updated Sustainable Growth Strategy, through our market leading sector positions, commitment to achieving net zero carbon2 and refreshed sustainability and financial targets.