Galliford Try Holdings PLC (LSE:GFRD) said trading had gone well in its first half with revenues and profits for the full year now forecast to be at the top end of market expectations.
Trading was ahead of both the prior year period and the board's expectations, added the civil engineering contractor, while orders had increased by £200 million from a year ago to £3.9 billion.
Most of the new contracts were in long-term frameworks, Galliford Try added, including a succession of new wins in the water sector.
This has included the £3.7 billion Wessex Water AMP8 Framework, the complex element of Yorkshire Water's £850 million new Non-Infrastructure Works Framework and Southern Water's Capital Programme Strategic Delivery Partner Framework.
Bill Hocking, chief executive, commented: "Our strong performance in the first half of the financial year provides increased confidence for the full year.
“We are pleased with our successes on the new AMP8 [water] frameworks and the opportunities we see across all our chosen sectors.
“Encouraged by our performance in the first six months of the year and the robust outlook, our expectations for the full year to June 2025 have improved accordingly."
Consensus forecasts for the year ended 30 June 2025 are revenues of £1,803-£1,835 million and profit before tax of £34-£35.4 million.
Average month-end cash for the rolling 12 months ended 31 December 2024 was £176.4 million and period-end cash at 31 December 2024 was £210 million with no debt.