Galliford Try has published a positive trading statement for 1HFY24 noting higher trading YoY, ahead of the Board's expectations. With good visibility over 2HFY24, guidance for FY24 has been raised, with revenue and PBT anticipated to be c5% ahead of current market expectations. Given excellent progress to date, Galliford Try expects to update its strategic targets in 2Q calendar 2024, extending them out to FY30. The order book closed the half at £3.7bn (£3.5bn at 1HFY23) and month-end cash for the half averaged c£149m, ahead of guidance. Galliford Try outperformed sharply following the FY23 results and this trading statement should only improve confidence in the group's performance and prospects. Even on the current consensus forecast, Galliford Try continues to trade on undemanding ratings.
17 Jan 2024
Galliford Try - HY24 trading statement – expectations raised
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Galliford Try - HY24 trading statement – expectations raised
Galliford Try Holdings PLC (GFRD:LON) | 245 9.8 1.7% | Mkt Cap: 251.6m
- Published:
17 Jan 2024 -
Author:
Colin Smith -
Pages:
5
Galliford Try has published a positive trading statement for 1HFY24 noting higher trading YoY, ahead of the Board's expectations. With good visibility over 2HFY24, guidance for FY24 has been raised, with revenue and PBT anticipated to be c5% ahead of current market expectations. Given excellent progress to date, Galliford Try expects to update its strategic targets in 2Q calendar 2024, extending them out to FY30. The order book closed the half at £3.7bn (£3.5bn at 1HFY23) and month-end cash for the half averaged c£149m, ahead of guidance. Galliford Try outperformed sharply following the FY23 results and this trading statement should only improve confidence in the group's performance and prospects. Even on the current consensus forecast, Galliford Try continues to trade on undemanding ratings.