The contractor is on course to post pre-tax profit of around £35m for the year to June 30 2025 on turnover of £1.8bn.

The company said: “The Group is performing well, winning a number of key projects and places on strategic frameworks throughout the first six months of the current financial year.

“Trading is ahead of both the prior year period and the Board’s expectations. Given our continued project wins and improved framework participation, revenue and profit before tax for the full financial year are expected to be at the upper end of current market expectations, reflecting continued progress towards our margin targets.”

Average month end cash for the rolling 12 months ended 31 December 2024 was £176.4m compared to the year to 30 June 2024 of £154.8m.

Galliford Try said: “We believe the Group’s strong balance sheet differentiates our ability to secure high quality contracts and frameworks, attract a highly skilled supply chain and continue to invest in the business whilst providing incremental returns to shareholders.”

Bill Hocking, Chief Executive, said: “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 frameworks and the opportunities we see across all our chosen sectors.  We have excellent people and project teams, a strong balance sheet and a high-quality carefully selected order book.

“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.”