Galliford Try Holdings PLC on Wednesday declared a sharply higher interim dividend amid profit growth led by its Infrastructure unit.
The Uxbridge, London-based construction company said pretax profit jumped 54% to £20.0 million in the six months to December 3, from £13.0 million a year before.
Galliford declared a dividend of 5.5 pence per share, up 38% from 4.0p a year ago.
Revenue grew 13% to £923.2 million from £819.1 million.
Notably, Infrastructure division revenue surged 25% to £451.7 million from £362.0 million, while Building division revenue rose 4.8% to £467.3 million from £446.0 million.
Galliford’s Infrastructure unit carries out engineering projects across the UK, including highway building and environmental projects such as in water and wastewater.
Its Building unit has a focus on the education, defence, health and custodial sectors, as well as, in the future, affordable homes.
Cost of sales increased 12% to £852.1 million in the six months to December 31 from £758.4 million a year prior, while administrative costs were 6.9% higher, at £53.9 million from £50.4 million.
Looking ahead, Chief Executive Bill Hocking said: ‘Our recent major long-term framework wins and order book provide clear visibility and security of future workloads well beyond the current financial year and we welcome the government’s commitment to grow the economy by major investment in infrastructure and development. Our performance and future outlook give us confidence to improve our expectations for the full year to 30 June 2025 and we are committed to delivering long-term sustainable value for our stakeholders.’
In January, Galliford had announced it won a place on the Yorkshire Water non-infrastructure works framework, worth around £100 million to the company.
The company’s Environment business was appointed to the complex element of the framework for the asset management period eight delivery period, between 2025 and 2030.
The complex part of the framework is valued at £850 million in total, with around £100 million for Galliford.
Galliford shares rose 8.6% to 377.98 pence each on Wednesday morning in London.
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