Galliford Try plc, the housebuilding and construction group, said strong progress since May had resulted in another record group profit with the publication today of its latest trading update for the year ended 30 June 2014.
Profit before tax is expected to be at the upper end of the analysts' current range of £92.8 - £95.2 million and 84% of revenue for the new financial year is already secured (2013: 82%).
The Group’s construction business has seen an improved order book of £1.4 billion (31 December 2013: £1.25 billion and 30 June 2013: £1.25 billion). Galliford Try said the division had delivered a solid performance underpinned by further improvement in cash and is experiencing increased levels of new opportunities across all divisions.
The update also reports an excellent cash position of circa £150 million, higher than last year, reflecting strong cash management throughout the year (2013: £132.1 million).
The Group, which is one of the Tier 1 contractors for the water sector, expects to announce its full year results on 16 September 2014.
Greg Fitzgerald, Chief Executive, commented:
"The market continues to be good across all of our regions. We welcome the Government's continuing commitment to housing provision, and the focus of the Bank of England on maintaining stability in the housing market. In addition the prospect of timely interest rate rises should support a sustainable market into the longer term.
We are pleased to have finished the year strongly and expect to deliver another record profit. With a solid balance sheet, minimal debt, a record landbank in housebuilding and excellent visibility of work in construction, we are starting the new financial year in a strong position, whilst recognising that challenges remain around the supply chain and converting outline planning permission into detailed consents."
Albion Water, the first NAV (New Appointment & Variation) to have been established in1999 and now under the ownership of SDS Water Group, has appointed Andy Holland as its new Director of Business Development.
UK water companies are invited to join an upcoming webinar which will explore how the sector can take indirect potable reuse (IPR) from concept to full-scale operational reality.
James Sumsion, CEO of predictive water intelligence specialists Kohtari, says the water sector needs to take a giant leap forward, so that it can anticipate and act upon water quality issues - rather than merely react.
Ray Moulds, Sales Director at Flood Control International, takes a look at how automated sliding floodgates are supporting secondary containment at water and sewerage company sites.
Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply.
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest.
Find out more about the remarkable career opportunities on offer at WSP - scroll down to watch the inspirational video.