UK construction group Galliford Try Holdings plc (GFRD.L) reported Wednesday higher profit and revenues in its first half of fiscal 2025. The company lifted interim dividend and raised full-year outlook, now expecting results above market consensus.
Galliford Try shares were gaining around 5.5 percent in the early morning trading on the London Stock Exchange at 367.23 pence.
For the first half, profit before tax climbed 53.8 percent to 20.0 million pounds from last year's 13.0 million pounds. Earnings per share were 14.7 pence, up from 10.8 pence last year.
Adjusted profit before tax was 20.5 million pounds, compared to 16.8 million pounds a year ago. Adjusted basic earnings per share were 15.7 pence, compared to 14.1 pence a year ago.
Adjusted operating profit increased 25.5 percent from last year to 17.7 million pounds and combined divisional adjusted operating margin was up 24 basic points at 2.7 percent, with improvement in both Building and Infrastructure.
Revenue grew 12.7 percent to 923.2 million pounds from 819.1 million pounds last year, with growth across operations.
Further, the Board of directors have declared an interim dividend of 5.5p per share, a 37.5 percent increase from last year. The dividend will be paid on April 11 to shareholders on the register at the close of business on March 14.
Looking ahead, for fiscal 2025, the company now projects revenue and adjusted profit before tax to be above the top end of the range of current market expectations. The Group in mid January said it expects revenue and profit before tax for the full \year to be at the upper end of current market expectations.
The range of analysts' forecasts for the year ending June 30 is 1.817 billion pounds to 1.835 billion pounds for revenue and 35.4 million pounds to 36.0 million pounds for profit before tax.
The improved guidance entirely reflects the strong trading performance and momentum. The company said it enters the second half of the year with improved confidence for the financial year. The Group expects a more even weighting between H1 and H2 for both revenue and profits.
By 2030, Galliford Try continues to project revenue growing to in excess of 2.2 billion pounds, maintaining disciplined contract selection and robust risk management in resilient market sectors.
Divisional adjusted operating margin is projected increasing to 4.0 percent through a focus on both top and bottom line growth and accelerated growth in higher-margin adjacent market businesses
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