NuGen Properties

Galliford trading ahead of expectations

Chief executive Bill Hocking

A trading update from Galliford Try today for the six months to 31st December 2023 – the first half of its current financial year – is full of good cheer.

The numbers are not only better than in 2022 but also ahead of the board’s expectations, which were previously increased just four months ago. The full financial year is now expected to be approximately 5% ahead of current forecasts. (Latest analyst forecasts are in the range of £1,435m to £1,490m for revenue and £25.2m to £28.1m for pre-exceptional profit before tax.)

Cash at 31st December 2023 was £209m (2022: £196m), and there is no debt and no pensions liabilities.

The order book is also up, at £3.7bn, compared to £3.5bn a year ago.

Chief executive Bill Hocking said: “Galliford Try continues to perform strongly and consistently, and our performance in the first half of the financial year provides increased confidence for the full year.

“We are pleased with our recent acquisition of AVRS Systems, complementing our existing operations and acquisitions of specialists Ham Baker and MCS Control Systems, further adding to our ability to provide enhanced specialist services to our water sector and related clients.  We have excellent people and project teams, a strong balance sheet and high-quality carefully selected order book in our chosen sectors.

“We are encouraged by the performance and momentum in the business and our expectations for the full year to June 2024 have improved accordingly.”

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Dan Morten 18/01/22

Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

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Brilliant service, renovated my house to make a dream a reality. Thanks guys

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Great firm to communicate with fast and good quality work.