Galliford Try (LSE:GFRD) said trading for the half year to 31 December 2025 has exceeded both the prior year and the board’s expectations, reflecting continued strength across its framework-led operations. Performance has been supported by a strong presence in long-term public and regulated sector frameworks, alongside progress on the expanded AMP8 water programmes.
As a result, the group now expects full-year revenue to land towards the upper end of market estimates, with adjusted profit before tax forecast to come in slightly above the top of the current consensus range. Visibility remains high, underpinned by a £4.1bn order book and recent framework awards, including positions on National Grid’s Major Works & Civils Framework, The Hyde Group’s affordable homes framework and the YORCivil Major Works 2 Framework.
Galliford Try also highlighted the strength of its balance sheet, with rising average cash levels, no debt or pension obligations, and access to an undrawn revolving credit facility. Management said this financial flexibility improves the group’s ability to win high-quality contracts, support its supply chain and continue returning capital to shareholders, including through its ongoing £10m share buyback programme.
Overall, the outlook is supported by solid operational execution and a resilient financial base. While margin and revenue growth pressures remain industry-wide considerations, the company’s technical momentum and shareholder-friendly capital allocation underpin its appeal to investors seeking stability and income.
More about Galliford Try
Galliford Try Holdings plc is a FTSE 250 UK construction company operating under the Galliford Try and Morrison Construction brands. It delivers building and infrastructure projects across the environment, highways and wider public, private and regulated sectors, with a particular focus on long-term national frameworks in transport, education, defence, custodial, health and major water sector programmes.
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