Contractor says figure achieveable by 2030
Galliford Try is targeting an industry-beating 4% margin by 2030, the firm announced this morning.
The contractor outlined its growth strategy by 2030 which includes raising margins from 3% to 4% and seeing turnover jump by 拢800m to 拢2.2bn.
It said: 鈥淗igher margin opportunities will come from adjacent markets including affordable homes, capital maintenance and asset optimisation within water, green retrofit, Private Rented Sector (PRS) and the group鈥檚 specialist services businesses.鈥�
The firm has previously said it will move back into affordable homes work after an agreement not to build any social housing following the sale of its Linden Homes business to Vistry lapsed at the beginning of last year.
>> See also: In business with Galliford Try鈥檚 Bill Hocking: 鈥楾here are some things that just have to carry on鈥�
Chief executive Bill Hocking said: 鈥淥ur updated strategy to 2030 reflects the Group鈥檚 strong performance since 2021 and is designed to continue the Group鈥檚 disciplined growth, focusing on higher margin opportunities, as well as provide long-term sustainable value for our stakeholders.鈥�
Earlier this year, Galliford Try delivered an improved set of interim figures with revenue up 21% to 拢819m and pre-tax profit up 81% to 拢13m. Average month end cash for the six months to December 2023 was flat at 拢150m. Its full-year figures for the year to June are due out in September.
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