Galliford Try profit to beat expectations

Galliford Try said annual profit would beat expectations after a strong performance in the year to the end of June.

The construction group said profit improved as margins strengthened and that it had a high quality order book. Orders totalled £3.3bn compared with £3.2bn a year earlier with 90% of revenue for the new financial year secured.

Bill Hocking, chief executive, said: "In March 2021 we announced a return to profitability and resumption of dividends and are pleased to confirm that we have made further good operational progress. We expect to report full year profit before tax towards the upper end of the analysts' current range.

"We start the new financial year in an excellent position. The quality of our people, our balance sheet and our order book mean that I look forward to the new financial year with confidence."

Galliford Try shares rose 1.2% to 148.8p at 08:33 BST.