Galliford Try Holdings PLC (LSE:GFRD) said it is confident of meeting its objectives for the current financial year, with the business performing well in the new financial year and continuing to manage inflation and supply chain challenges.
In a statement ahead of its annual shareholder meeting, the construction group said it is maintaining a strong cash position with profit margins in line with management expectations.
Since announcing a new sustainable growth strategy alongside September’s final results, Galliford has made the acquisition of a water process and controls businesses from NMCN, which it said is integrating well with the group’s existing water business.
The company is encouraged by the continuing pipeline of new opportunities that align to the new strategy and chosen sectors, which were given a boost by the government's plans for investment in infrastructure and economic recovery.
Contracts from the pipeline announced since the results include the appointment of the Building arm to the four-year £1.6bn local authority public buildings, construction and infrastructure framework, while the Highways business was appointed to the £3.5bn Highways England scheme delivery framework.
In the private sector, the Building business has been appointed to build the £56m Secklow Gate private rental sector scheme in Milton Keynes on behalf of AIG and Abbeygate Developments.