Galliford Try ‘well-positioned’ to benefit from government spending
Galliford Try has stated that it “welcomes” the government’s ambitions for affordable housing and infrastructure and expects to report a profit ahead of expectations this year.
The construction giant, which has 4,300 employees across the UK, operates across the public and regulated sectors – including water, transport and building projects.
The company told markets it was “well-positioned” to “deliver on and benefit from” local and national government commitments.
The infrastructure strategy pledged £725bn over the next decade, while the spending review committed billions to the affordable housing pipeline.
The strategy included £15.6bn for city region transport settlements and £2.6bn earmarked for transport decarbonisation.
CEO Bill Hocking hailed the government’s “commitment to invest” in the UK.
“As a UK only contractor, our confidence in the future is supported by our high-quality order book as well as a long-term pipeline of future opportunities in key sectors as supported by the investment proposals in last month’s Spending Review and UK Infrastructure Strategy plans,” he added.
Industry bodies have been largely in favour of the spending – with the exception of some hang-wringing about costs – with National Infrastructure and Service Transformation Authority (NISTA) chief Becky Wood describing it as crucial to “ensur[ing] our vital public services remain resilient and fit for purpose.”
John Dickie, chief executive at BusinessLDN, said the “clear, committed, long-term pipeline” is needed to “give the private sector the confidence to invest”.
Galliford Try: Revenue to beat expectations
The FTSE 250 company told markets that it expects to report full year revenue and adjusted profit before tax slightly above the upper end of current analyst forecasts – currently £1.8bn for revenue and £40.1m-41.6m for profit before tax.
It has secured a number of significant contracts in 2025 so far, including an £850m project with Yorkshire Water, a £1bn highway project with the North East Procurement Organisation (NEPO) Civil Engineering and Infrastructure Works, and an £814m facilities project with Pagabo.
The company’s order book is “robust”, it said, standing at £4.1bn on June 30 and up from £3.8bn in 2024.
Galliford Try has “90 per cent” of revenue secured, it added, with “significant national investment planned and announced” in its chosen sectors.
“I am delighted that all our operations continued to perform strongly throughout the second half of the year and we expect to report another year of increased revenue and profit in September,” Hocking said.
“We are excited about the opportunities in our chosen sectors and the delivery of further strong performance and long-term value for all stakeholders as we work to deliver our sustainable growth targets by 2030.”