Galliford Try (GFRD) H2 2026 earnings summary

Executive summary

• Achieved sixth consecutive year of profitable growth, with revenue up 3% year-over-year to £1.93 billion and adjusted profit before tax up 24.2% to £55.9 million.

• High-quality order book of £4.3 billion, with 93% of FY27 and 62% of FY28 work already secured, providing strong visibility.

• Strategic focus on sustainable growth, margin improvement, and capital allocation, with confidence in meeting 2030 targets of over £2.2 billion revenue and 4% divisional adjusted operating margin.

• Dividend increased 23% to 23.5p, and a new £15 million share buyback was announced.

Financial highlights

• Revenue rose 3% year-over-year to £1,931.1 million; adjusted operating profit increased 21.9% to £49.5 million.

• Adjusted EPS grew 23.1% to 42.4p, with a CAGR of 33% since 2021.

• Full year dividend per share up 23.7% to 23.5p; £15 million share buyback announced.

• Average month-end cash rose 21% to £216.2 million; year-end cash at £259 million, up 9%, with no drawn bank debt or pension liability.

• No exceptional items for the second consecutive year.

Outlook and guidance

• Confident in delivering further revenue growth and margin progression toward the 4% target by 2030, with robust order book and government investment in core sectors.

• High visibility of revenues, with 93% of 2027 and 62% of 2028 revenue already secured.

• Expect continued strong performance in both core and specialist divisions, with further EPS accretion from capital allocation.

• Return to corporation tax payments from 2027 as historic tax losses are exhausted.