NuGen Properties

Profits improve at Galliford Try

Profits improve at Galliford Try

Chief executive Bill Hocking (left) and finance director Andrew Duxbury
Chief executive Bill Hocking (left) and finance director Andrew Duxbury

In the year to 30th June 2023 Galliford Try grew revenue by 13% to £1,394m (2022: £1,237m) and pre-tax profit by 87% to £10.1m (2022: £5.4m).

Revenue growth benefited from a higher level of activity from the AMP7 programme in the water sector and the first full year of trading following the acquisition of the water operations of NMCN out of administration.

Underlying pre-tax profit, excluding exceptional and one-off items, was up 22% at £23.4m (2022: £19.1m).

The operating profit margin in the company’s infrastructure division improved from 2.4% to 2.5% in the year while in the building division it went in the other direction, from 2.4% to 2.3%

Building’s order book stands at £2,249m, compared to £2,047m last year including 25% in education, 30% in defence and custodial, 15% in facilities management and 5% in health.

Infrastructure’s order book is £1,464m, compared to £1,396m last year, including £626m in infrastructure (highways) and £838m in environment (water).

During the year ended 30th June 2023, Galliford Try was appointed to contracts and frameworks worth more than £1,658m, including:

  • £5.1bn Defence Estate Optimisation Portfolio
  • £4.5bn Southern Construction Framework
  • £2.5bn Ministry of Justice Constructor Services Framework
  • £600m Southern Water AMP8 Framework
  • £140m Carlisle Southern Link Road
  • £95m new custodial facility at HMP Rye Hill
  • £81m Melton Mowbray Distributor Road
  • £75m Brent Cross Residential Project, and
  • £72m remodelling and refurbishment of Adelaide House, London.

At 30th June 2023 Galliford Try had no debt or pension liability and a cash balance of £220.2m (2022: £218.9m).

Chief executive Bill Hocking said: “Our commitment to robust risk management, careful contract selection and operational excellence continues to underpin our performance and prospects.  We are doing what we said we would do, consistently delivering increased revenue and profit, supported by our great people, a strong balance sheet, excellent order book and good supply chain and client relationships.

“Our high quality order book provides visibility and security of future workloads. Our business is not exposed to the short term economic cycle as our sectors are critical to the UK’s future growth.  Together with our excellent people and our strong balance sheet, this gives confidence in our ability to deliver our sustainable growth strategy to 2026 and beyond and continue to provide long-term sustainable value for our stakeholders.

“We are encouraged that the momentum in the business has carried into the first quarter of the new financial year and our expectations for the full year to June 2024 have now increased.”

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Customer Reviews

Nugen Properties

Customer Reviews

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!

Sonny Carter-heyward 29/02/22

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

sitemanager 22/01/23

Great firm to communicate with fast and good quality work.