Galliford Try Holdings PLC (LSE:GFRD) has announced that its Highways business has been appointed to build the new £140mln Carlisle Southern Link Road (CSLR) which will be delivered by Cumberland Council.
The construction group noted that the CSLR will create a new link between the A595 from the west and junction 42 of the M6, providing additional crossings of the River Caldew and River Petteril. This corridor will facilitate movement of goods and people between the proposed new community at St Cuthbert's Garden Village and West Cumbria.
In a brief statement, Bill Hocking, chief executive of Galliford Try, commented: "We are delighted to have been appointed to this exciting new scheme. Working with local authorities to achieve their ambitions is a key part of the ongoing strategy for our Highways business and we look forward to creating this much-needed infrastructure for Carlisle and the wider region."
The company has been racking up contract wins over the past few months, including being named as contractor on a £2.5bn prison programme and being reappointed by the Southern Construction Framework (SCF) to the £4.5bn SCF Construct Framework, which provides a procurement route for construction services to local authorities and public sector bodies across the south of England.
At the start of March, Galliford Try revealed that its management now expect full-year profit to be at the upper end of current forecasts after reporting increased revenues and profit margins in the first hal.
The group reported revenue of £679mln for the half-year to 31 December 2022, up 14% on a year earlier, with profit surging 65% to £11.7mln. On average, analysts estimate £20.3mln of profit before tax and exceptionals for the year to 30 June 2023.