Corporate Governance

Galliford Try is firmly committed to attaining high standards of corporate governance and conducting the Group’s operations in accordance with the best principles of corporate governance and the Turnbull Guidance. Throughout the year the company complied with the provisions set out in Section 1 of the Combined Code of Corporate Governance as revised in 2006 (the “Code”) and maintained by the Financial Reporting Council.

This statement, along the Renumeration Report in the 2008 Annual Report, shows how the company has complied with the provisions, and applied the main and supporting principles, of the Combined Code of Corporate Governance (maintained by the Financial Reporting Council).

Risk management
Internal controls within the company comprise procedures that are laid down in manuals and systems, regular reporting of financial and non-financial information and the levels of authority that operate throughout the Group. Each year directors review the way in which the Group’s risks are being managed. These include risks related to the markets in which we operate, the risks of taking on and managing projects, financial risks, and CR risks relating to human resources, health, safety and environment.

Reporting to stakeholders
The company seeks to present a balanced and understandable assessment of its position and prospects throughout the year. The Annual Report, published in September, comprises a business review that looks at its key risks and opportunities and outlines its strategy for the future. The company also publishes an interim report in March and interim management statements in November and May. An effective ongoing dialogue with its shareholders, particularly its institutional shareholders presenting pension funds and other investment businesses, is a high priority. In addition to the Annual General Meeting of shareholders in November, many face-to-face and group meetings with institutional shareholders took place during the last year.

For further information about the role of the board and the committees, internal controls, risk  management, shareholder communication, and directors’ biographies, please refer to Galliford Try’s Annual Report 2009.