Galliford Try Holdings PLC (LSE:GFRD) said trading has been ahead of expectations in the first six months of its financial year.
The construction group said it now expects full-year revenue to be roughly 5% ahead of current market forecasts, resulting in profit before tax also getting an equivalent boost.
With the progress made since it first outlined its sustainable growth strategy in 2021, the board plans to set out new strategic targets for 2030 during the second quarter of 2024, having already improved its dividend policy in September.
Acquisitions have been a key part of the strategy so far and the latest, AVRS Systems in November, was said to be continuing its integration into the growing Environment division, joining previous purchases Ham Baker and MCS from the prior financial year.
Group cash levels were reported to stand at roughly £209 million at the end of December, up from £195 million a year earlier, averaging £149 million over the six months since July.
This follows the completion of the £15 million share buyback the month before.
This strong balance sheet was cited as key to the pipeline of recent contract wins and further opportunities across sectors, enabling the order book to be maintained at £3.7 billion as it was at the end of June, up from £3.5 billion the previous December, covering a long-term workload well beyond the current financial year.