Andrew Duxbury of Galliford Try discusses their strong financial performance and sustainable growth strategy

Sep 16, 06:38 AM

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.

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.

ANNUAL RESULTS FOR THE YEAR ENDED 30 JUNE 2021 - HIGHLIGHTS

  • 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.

ABOUT GALLIFORD TRY

Galliford Try is a leading UK construction group listed on the London Stock Exchange. Operating as Galliford Try and Morrison Construction, the group carries out building and infrastructure projects with clients in the public, private and regulated sectors across the UK.