Galliford Try (LSE:GFRD) reported solid results for the six months to 31 December 2025, with revenue increasing 1.3% to £934.9 million and adjusted profit before tax rising 20.5% to £24.7 million. The improvement was largely driven by stronger margins in the group’s Building and Infrastructure divisions.
Divisional adjusted operating margin improved to 3.2%, while the company’s order book expanded to £4.1 billion. Reflecting confidence in performance and cash generation, the group also increased its interim dividend by 18.2%. Management highlighted the company’s strong cash position and disciplined approach to risk management as key contributors to the improved profitability.
Looking ahead, Galliford Try expects both revenue and adjusted profit before tax for the full year to exceed the upper end of current market forecasts. The company also noted strong revenue visibility, with 98% of expected FY26 revenue and 80% of FY27 turnover already secured through existing contracts.
Strategic initiatives during the period included preparations to participate in the AMP8 water infrastructure programme, investment in a new pipe fabrication facility and the £10 million acquisition of Nene Valley Fire & Acoustic. The acquisition strengthens the group’s position in the higher-margin fire protection segment and supports expansion into specialist services.
These moves are intended to reinforce Galliford Try’s presence in sectors with strong long-term demand while supporting its broader strategy of achieving sustainable growth and improved margins through to 2030.
The company’s outlook is supported by favourable technical indicators and a stable financial position. Although revenue growth remains modest and margin pressures persist in parts of the market, initiatives such as its share buyback programme and continued focus on cash generation strengthen its appeal for investors seeking income and stability.
More about Galliford Try
Galliford Try Holdings plc is a UK-based construction and infrastructure group delivering building, infrastructure and specialist services primarily for public sector and regulated markets. The company has strong positions in areas such as highways, education, defence, custodial and healthcare facilities, and is increasingly expanding into higher-margin sectors including water infrastructure, fire protection and specialist fabrication through long-term national frameworks.
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