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Galliford Try FY20 Pre-tax Loss Narrows, Order Book Up; Sees Return To Profit In FY21

Galliford Try Plc (GFRD.L), a housebuilding, regeneration and construction group, reported Wednesday that its fiscal 2020 loss before tax narrowed to 34.6 million pounds from 64.5 million pounds a year ago.

Loss per share was 29.4 pence, compared to loss of 44.7 pence a year ago.

Pre-exceptional loss before tax was 59.7 million pounds, compared to 17.2 million pounds last year. Pre -exceptional loss per share was 47.7 pence, compared to 10.7 pence a year ago.

Revenue declined to 1.122 billion pounds from 1.40 billion pounds a year earlier. Pre- exceptional revenue dropped to 1.09 billion pounds from prior year's 1.40 billion pounds, reflecting the business' focus on core sectors and the impact of Covid-19.

Order book was 3.2 billion pounds, up from 2.9 billion pounds last year.

Looking ahead, the company said it is reinstating financial guidance, with strong platform for return to profitability in fiscal 2021.

The company expects to return to profitability in the financial year to June 30, 2021 with operating margins, pre-central costs, expected to be 1.4 percent to 1.6 percent on revenues of 1.1 billion pounds to 1.3 billion pounds.

Further, the Board anticipates reinstating dividend payments, following a return to profitability.

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