Galliford Try hosted its Capital Markets Event (CME) yesterday at which it introduced its new targets through FY30 based on executing the unchanged Sustainable Growth Strategy which has proven so successful. The key new targets are a divisional operating margin of 4.0% and revenue in excess of £2.2bn which implies compound revenue growth of 7% pa from FY23, more than doubling at the divisional operating profit level which would be on track to hit c£90m in FY30. That in turn is expected to drive a tripling in EPS and dividend all delivered from organic growth, although the strength of the balance sheet leaves scope for further bolt-on M&A. The CME incorporated an update on the divisions focusing on the push into higher margin adjacent markets, which are a key component of the company's growth in both revenue and margin.
