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20 Jan 2021 | 08:50

Galliford confirms trading on track, shares jump

(Sharecast News) - Galliford Try said on Wednesday that it remained on course to return to profitability, sending the shares higher. The construction firm said that all its projects had been fully operational since the start of its financial year, 1 July 2020, despite the latest round of lockdown restrictions, and it continued to trade in line with expectations.

As a result, Galliford said, the board "expects to report a return to profitability and a resumption of dividend with its half year results to 31 December".

The order book as at 31 December was £3.3bn, compared to £3.2bn a year previously. New contracts include Thames Water's £590m AMP 7 framework and Galliford's appointment to the £10.5bn NHS Shared Business Services framework.

Chief executive Bill Hocking said: "Despite the ongoing challenges from Covid-19, our strong balance sheet, market-leading sector positions and high-quality order book give me confidence in our future performance."

As at 0900 GMT, shares in Galliford were ahead 6% at 137.3p.

Galliford expects to post interim results in early March.
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