Galliford Try presented a ‘confident outlook’ to investors after releasing its half-year results today, according to analysts at Liberum.
The construction company saw its earnings per share (EPS) increase by 45% year on year to 8.2p after it reported profits had grown by nearly two-thirds.
Looking to the second half of the financial year, Liberum maintained its EPS prediction of 16.7p, stating that the forecast was already on the high end of consensus.
The Uxbridge-based company is predicted to add £6mln in net cash over the next six months taking the total to £160mln, Liberum added.
“The estimate reflects acquisitions in the first half of the financial year as well as the ongoing £15mln buy-back,” said the UK bank.
Looking forward, the company is confident in hitting 2026 targets, which Liberum see as a 77% growth to underlying profits compared to 2023 earning predictions.
Speaking to Proactive, chief financial officer Andrew Duxbury said: “We are making really good progress towards the 2026 target of £1.6bln revenue, and more importantly, a 3% divisional operating margin.”
Liberum currently rates the stock a ‘buy’ and is targeting a 270p share price.
This currently represents a 33% upside after shares in Galliford Try rose by 4% today, having opened at 178p this morning.