Galliford Try sees big opportunities in water and school sectors after positive FY2023
London, UK
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September 20, 2023 03:59 AM Eastern Daylight Time
Galliford Try Holdings PLC (LSE:GFRD) chief financial officer Andrew Duxbury speaks to Proactive's Thomas Warner after the UK construction group released its final results for the financial year ended 30 June 2023.
Duxbury gives his take on the highlights, noting that the company reported a 23% rise in profit before tax, reaching £23.4 million. An improved dividend cover policy of 1.8 times cover was introduced, reflecting enhanced operational performance. A special dividend of 12 pence per share will be paid in October following the settlement of a final legacy contract.
He suggests that the successful integration of water sector acquisitions and a strong debt-free balance sheet position the company for continued growth. Future plans involve maintaining a strong balance sheet and returning excess capital.
With a substantial order book and non-cyclical work, Galliford Try anticipates a positive outlook for the year ahead and aims to meet targets through 2026. He concludes by saying that the company's strategic focus on water infrastructure and education sectors further supports their growth trajectory.
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