Leicestershire construction company optimistic for coming year
Galliford Try is increasing its profit forecast for 2024 due to a strong performance this year and a strong order book for the future.
According to Bill Hocking, the chief executive, the company has already secured 75% of its revenue for the upcoming year and anticipates enhanced performance in both the building and infrastructure divisions.
He goes on to state that their better performance largely results from the company’s recent transition to a new cloud-based computing system, which incurred expenses of £10.5m last year and £6m in the previous year.
For the fiscal year ending on June 30, Galliford Try reported a pre-tax profit increase to £10.1m from £5.4m, driven by a 13% rise in revenue to £1.4bn.
The operating margin remained steady at 2.4%, although there was some pressure observed in the building division.