GALLIFORD TRY HOLDINGS PLC
Annual General Meeting Statement and Update on Current Trading
Friday 12 November 2021
Galliford Try Holdings plc, the UK construction group, is holding its Annual General Meeting (AGM) at 11:00am today, Friday 12 November 2021 at the offices of Peel Hunt LLP, 100 Liverpool Street, EC2M 2AT.
Update on Current Trading and Outlook
- The Group's operations are performing well, as we continue to manage inflation and supply challenges, and maintain a strong cash position with margins in line with the Board's expectations. In September 2021 we set out our sustainable growth strategy. This included refreshed sustainability and financial targets whilst maintaining our strict focus on risk management, contract selection and operational excellence.
- As announced on 7 October 2021, and consistent with our sustainable growth strategy, the Group acquired the complementary water operations and specialist water process and control businesses of nmcn plc (in administration). The acquisition provides an excellent strategic fit, an increased order book, complements our existing geography and accelerates our growth through established frameworks, as well as creating further opportunities with new clients. The integration of operations with our existing water business is progressing well.
- We are encouraged by the continuing pipeline of new opportunities that align to our strategy and chosen sectors, and the Government's planned investment in infrastructure and economic recovery. In the period since September, we announced our Building business was appointed to the new four-year £1.6bn LHC Public Buildings, Construction and Infrastructure PB3 framework which covers projects across all public sector buildings; and our Highways business has been appointed to the £3.5bn HE Scheme Delivery Framework. In the private sector our Building business was appointed to build the £56m Secklow Gate private rental sector (PRS) scheme in Milton Keynes on behalf of AIG and Abbeygate Developments.
The Board is confident of meeting its objectives for the current financial year and in its plans to deliver strong performance and long-term sustainable value for all stakeholders.