The firm this morning said it was on track to meet its financial targets of 3% margin across the building and infrastructure divisions with operating cash at £160m.
Over the year revenue edged up 3% to £1.12bn, generating a pre-tax profit of £11.4m, compared with a reported pre-exceptional loss of £60m in 2020.
Building generated profit of £16m (2020: pre-exceptional loss of £52m), representing a margin of 2%, while Infrastructure generated profit of £6m (2020: pre-exceptional loss of £1.8m), at a 1.8% margin.
This took the combined group operating margin to 2%.
Bill Hocking, chief executive, said: “We have dealt with challenging circumstances and continue to successfully manage the current market conditions.
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“Our commitment to robust risk management, careful contract selection and operational excellence underpins our performance and prospects. “
He added that Galliford Try now had a strong order book and balance sheet putting it on course to deliver growth in the years ahead.
The group started the new financial year with 90% of planned revenue secured for the 2022 financial year.
At June 2021 year-end Galliford’s order book was up to £3.3bn (2020: £3.2bn) of which 91% came from the public and regulated sectors and 9% is in the private sector (2020: 81% and 19% respectively).
Average month-end cash in the year was £164m.
During the year Building and Infrastructure secured contracts and frameworks worth over £641m and £590m respectively.
Key work wins
– the £400m NEPO Civil Works framework;
– Scottish Water’s £350m SR21 Non-Infrastructure framework;
– Scottish Water’s £350m Delivery Vehicle 2 programme; and
– Leicestershire County Council’s £48m Grantham Southern Relief Road.
