Welcome to Galliford Try's Press Centre. This section contains our most recent press releases, publications, videos and details of our press contacts.

Press Releases

Wednesday, 19 November 2014 @ 10:26

Galliford Try Secures Place On £100 Million North Lanarkshire Council Framework

Galliford Try plc, the housebuilding and construction group, announces that its Scottish business Morrison Construction has been successfully appointed to North Lanarkshire Council’s Schools and Centres 21 Phase 2 Framework, which is expected to produce a pipeline of up to £100 million in schools projects over the next four years.

Morrison Construction is one of three contractors due to deliver works over the four-year duration of the framework. The schools projects will be awarded as design and build contracts through a selection process of mini-tenders.

Galliford Try Executive Chairman Greg Fitzgerald said: “We are delighted to have secured this opportunity, which builds on the strong relationships already established with North Lanarkshire Council through our Hub South West schools projects. Morrison Construction continues to lead the way as contractor of choice for the public sector in Scotland and will continue to play a key part in our strategy to increase the size of our construction business.”

For further enquiries:

Galliford Try - Greg Fitzgerald, Executive Chairman 01895 855001

Graham Prothero, Finance Director

Tuesday, 11 November 2014 @ 08:29

Galliford Try Secures Place on £1.15 Billion Highways Agency Framework

Galliford Try plc, the housebuilding and construction group, announces that its infrastructure business has been appointed by the Highways Agency to its Collaborative Delivery Framework.

Galliford Try has secured a place on Lot 3a which consists of construction works with individual schemes ranging in value from £25 million to £100 million. The Group is one of six contractors due to deliver works worth a total of up to £1.15 billion over the five-year duration of the framework. The scope of work will span the entire major highways building programme, including smart motorways, motorway widening, junctions, bypass schemes, asset renewal works and pinch points.

Greg Fitzgerald, Executive Chairman of Galliford Try plc, commented: “We are delighted to have secured this opportunity to further strengthen our presence in the highways sector and look forward to working with the Highways Agency in the spirit of long-term collaboration that this new framework engenders.”

Friday, 07 November 2014 @ 07:05

Interim Management Statement and Annual General Meeting - Friday 7 November 2014

Galliford Try plc, the housebuilding and construction group, is holding its Annual General Meeting today, Friday 7 November, and is issuing its Interim Management Statement for the period from 1 July 2014 to 6 November 2014.

Housebuilding

  • Following on from the seasonally quieter summer period the sales rate has improved during the autumn, although not at the same rate as experienced last year, providing a good in hand position of sales, reserved, contracted or completed of £509 million (2013: £560 million).  £433 million (52%) is for the current financial year to 30 June 2015 (2013: £469 million (60%)).  As expected at this stage all units required to meet our half year targets have been sold.
  • Linden Homes continues to focus on margin and to achieve prices ahead of our forecasts.
  • Strong progress in Galliford Try Partnerships with the order book at £620 million following excellent project wins, including Silvertown Reach (GDV £365 million).
  • Record landbank of 14,050 units achieved ahead of plan, with land opportunities remaining very good across all regions.  94% of land secured for the financial year to 30 June 2016.

Construction

  • Transformed order book of £3.1 billion (2013: £1.75 billion) and we continue to experience an improving pipeline of opportunities.
  • Integration of Miller Construction proceeding on plan with restructuring costs likely to be lower than our initial estimates whilst still in line to deliver the planned savings.  Enlarged Building business geographically reorganised and benefiting from strengthened management team and national coverage.
  • Continuing focus on risk management and margin protection. 
  • The enlarged business continues to generate exceptional levels of cash.
  • 94% of projected revenues for the financial year to 30 June 2015 secured with 56% for the year to 30 June 2016 (2013: 93% and 55% respectively).

Group

  • Balance sheet is strong, with net debt lower than budget.
  • We continue to pro-actively manage the tight supply chain conditions in both divisions with early signs of material availability starting to improve.
  • Terry Miller appointed Chair of the Nomination Committee.

Greg Fitzgerald, Executive Chairman, commented: “Steadily improving confidence in the economy supports the planned disciplined growth in both our Housebuilding and Construction divisions.  Housing market growth rates have steadied to a more sustainable level and, supported by improved mortgage availability, Linden Homes is on target to meet our expectations.  Our Partnerships business continues to enjoy exceptional growth opportunities in the affordable market.  Construction, bolstered by the acquisition of Miller Construction in July, is benefiting from an improving market and the stronger presence created by the combination.  I am delighted both with the efficient integration process and by the strong contribution already evident from the incoming team.  The Group is encouraged by the prospects of delivering further growth in line with our strategy.”

For further enquiries please contact:

Galliford Try -                           Greg Fitzgerald, Executive Chairman                  01895 855001

                                               Graham Prothero, Finance Director                    

Tulchan Communications -         Christian Cowley / James Macey White               020 7353 4200

Galliford Try’s Annual General Meeting will be held today, Friday 7 November 2014, at the RBS Conference Centre, 250 Bishopsgate, EC2M 4AA.  The meeting will commence at 11.00 am.

Tuesday, 21 October 2014 @ 04:43

Galliford Try Appointed To Two New Office Contracts Worth £77 Million

Galliford Try plc, the housebuilding and construction group, announces its Building business has been appointed to two new major office contracts worth a combined £77 million.

Firstly, the Building business has been selected as preferred bidder by Northamptonshire County Council to build its new headquarters in Northampton in a £38 million project.

The new 17,600 sqm four-storey building is intended to consolidate the council’s existing offices in the town, and regenerate an area on the south side of Northampton town centre. In addition to the office space, a café will be created together with extensive hard landscaping around the site.

Secondly, offshore engineering company Subsea 7 has chosen Galliford Try to deliver its new office building at Sutton in Surrey. The £39 million project creates a new 150,000 sqft Category A office space and associated facilities on the site of the former Brighton Road car park.

Galliford Try Executive Chairman Greg Fitzgerald commented: “We are delighted that Northamptonshire County Council and Subsea 7 have entrusted us with such significant projects. We have a strong reputation in the office sector and we look forward to providing these two clients with the first class facilities they require.”


For further enquiries:

Galliford Try - Greg Fitzgerald, Executive Chairman 01895 855001
                 Graham Prothero, Finance Director

Tuesday, 21 October 2014 @ 08:30

Board Changes

GALLIFORD TRY PLC


Galliford Try plc, the housebuilding and construction group, announces that after four years on the Board, Ian Coull will step down as non-executive Chairman with immediate effect due to other business and personal commitments.

Following a review of roles and responsibilities on the Board, Greg Fitzgerald will assume the role of Executive Chairman for a period ending no later than December 2015. Greg will continue to fulfil his existing executive responsibilities and to ensure that the Group's growth strategy is well executed, whilst helping the Nominations Committee in the recruitment of a new Chief Executive.

Peter Rogers, non-executive director and senior independent director, will assume the role of interim Deputy Chairman and will support Greg in his role; ensuring that the Group's governance remains strong. Peter Rogers was appointed to the Board in July 2008. He is currently senior independent director and is a member of the Remuneration, Nomination and Audit Committees.

The Board will immediately commence a search for a new non-executive director.

Ian Coull, Chairman, said: "As a result of my growing business and personal commitments I have decided to step down as Chairman after just under four very enjoyable years at Galliford Try. I leave the business in very capable hands, and in an excellent financial position with a clear growth strategy."

Peter Rogers, senior independent director, said: "The Board is immensely grateful to Ian for his significant contribution to Galliford Try during an exciting period of growth for the Group. Whilst we are sad to see Ian leave we completely understand his reasons for going. The Board and I look forward to working with and supporting Greg."

Greg Fitzgerald, Chief Executive, said: "I would also like to extend my personal thanks to Ian for his excellent work as Chairman over the last four years. I look forward to working closely with the Board as we continue with the Group's strategy of growth across all our businesses, and focus on securing a strong chief executive."


For further enquiries:

Galliford Try plc
Greg Fitzgerald, Chief Executive
01895 855001

Graham Prothero, Finance Director




Tulchan Communications

Christian Cowley
020 7353 4200

James Macey White
Giles Kernick

Thursday, 02 October 2014 @ 09:42

Galliford Try Appointed To South London Priority Schools Building Programme Batch

Galliford Try plc, the housebuilding and construction group, announces that its has been appointed by the Education Funding Agency (EFA) as selected panel member for the Greenwich, Lewisham and Croydon Priority School Building Programme batch, worth over £45 million.

The batch, which marks Galliford Try’s third success since being appointed to the EFA’s main contractor framework last year, comprises six new schools – Invicta Primary School, Our Lady of Grace RC Primary School, Wingfield Primary School and Eltham Primary School in Greenwich, as well as Sir Francis Drake Primary School in Lewisham and Archbishop Lanfranc Secondary Academy in Croydon.

Galliford Try Chief Executive Greg Fitzgerald commented: “It is great news that once again we have been trusted by our partners at the EFA to deliver for these much needed new school buildings for the teachers, pupils and parents in south London. Our education offering continues to go from strength to strength and we look forward to furthering our relationship with the EFA across the country.”


For further enquiries:

Galliford Try -         Greg Fitzgerald, Chief Executive            01895 855001
                          Graham Prothero, Finance Director

Tuesday, 16 September 2014 @ 07:00

Galliford Try Plc Annual Results Statement for the Year Ended 30 June 2014

Continuing to deliver record results from our disciplined growth strategy

Highlights

Financial 2014 2013 Change
Group revenue¹ £1,768m £1,467m + 21%
Profit before tax £95.2m £74.1m +28%
Earnings per share 94.6p 71.7p +32%
Dividend per share 53.0p 37.0p +43%
Group return on net assets² 20.8% 16.6% +25%

Group

  • Record profit achieved through strong performance across the Group and successful delivery of disciplined growth strategy
  • Record earnings per share, increasing by 32% to 94.6 pence
  • Return on net assets improved to 20.8%
  • 43% increase in full year dividend payment to 53.0 pence
  • Minimal net debt of £5.1 million at 30 June 2014 (2013: net debt of £14.4 million)
  • £400 million five year unsecured bank facility

Housebuilding³

  • Strong increase in revenue to £1,002 million (2013: £730 million), on an increase in the number of completions (inclusive of joint ventures) to 3,107 (2013: 2,932) and average Linden Homes selling price rising to £305,000 (2013: £266,000)
  • Improved margin performance with 13% increase in Linden Homes' operating margin to 15.1% (2013: 13.3%)
  • Strong forward sales position with 3% increase in sales currently reserved, contracted or completed at £419 million (2013: £405 million)
  • Record 14,000 plot landbank with 91% now acquired at current market values (2013: 87% of 11,400)
  • 100% of land required for 2015 financial year in place, 90% of land secured for 2016
  • Galliford Try Partnerships revenue up 150% to £242.8 million; business performing strongly in a growing market with contracting order book of £0.6 billion (2013: £0.5 billion)

Construction³

  • Construction operating margin robust at 1.0% as we deliver work won in more difficult market conditions (2013: 1.6%)
  • Exceptional cash management with a year end construction cash balance of £151 million (2013: £132 million)
  • A number of major project wins in the period with an encouraging pipeline of future opportunities reflecting improving market conditions
  • Miller Construction acquisition accelerates growth plans, provides access to new frameworks and more than doubles the size of our order book to £3.0 billion (2013: £1.2 billion)
  • 88% of current year's planned revenue secured (2013: 87%)

Greg Fitzgerald, Chief Executive, commented:

“We have made excellent progress during the year against our strategy of disciplined growth with principal focus on margin. Linden Homes achieved an improved margin, ahead of our expectations, and significantly stronger average selling prices, reflecting the quality of our homes, our prime locations and the backdrop of improved consumer confidence. As we have gone through the quieter summer period, sales have been in line with our expectations.

Galliford Try Partnerships delivered outstanding growth with revenues more than doubling and margins improving.

Construction continued to perform well, maintaining a profitable result as we work through contracts won in a difficult market, and start to deliver new work secured on more robust terms in improving conditions. We are very pleased to have acquired Miller Construction which more than doubles the size of our order book, adds several strategically important frameworks and also brings additional talent to the enlarged Group. Integration is proceeding very well and ahead of expectations.

With a record landbank in housebuilding, a larger and stronger construction business and a robust balance sheet, the Group is in an excellent position. Whilst we continue to recognise the challenges around the supply chain and the time required to convert outline planning permissions into detailed consents, we look forward to the year ahead with confidence.”

Enquiries:

Galliford Try
Greg Fitzgerald, Chief Executive
Graham Prothero, Finance Director
01895 855001

Tulchan Communications
Christian Cowley
James Macey White
Giles Kernick
020 7353 4200

¹ Group revenue excludes share of joint ventures' revenue of £83.0 million (2013: £92.1 million). Revenue where stated includes share of joint ventures.

² Group return on net assets represents profit before tax, finance costs and amortisation compared to average net assets.

³ Comparative figures throughout this statement have been restated for the new segmental reporting of Galliford Try Partnerships as set out in note 2 of the financial information.

Galliford Try will hold its results presentation at 09:30 am on Tuesday, 16 September 2014 at the London Stock Exchange, 10 Paternoster Square, London EC4M 7LS. A live audio webcast will be available at www.gallifordtry.co.uk/investors.  A recorded interview with Greg Fitzgerald, Chief Executive, regarding the full year results will be available on the company website: www.gallifordtry.co.uk from 18 September 2014.

Click here for full statement >>>

Tuesday, 16 September 2014 @ 07:00

Directorate Change

Galliford Try plc, the housebuilding and construction group, announces that after 33 years with the company and acquired businesses, Greg Fitzgerald has indicated to the Board his wish to retire as Chief Executive no later than the end of 2015. The Board has begun the process to appoint his successor.

Ian Coull, Chairman, said: “On behalf of the Board I would like to thank Greg for his excellent leadership and vision over the last nine years in his role as Chief Executive. The company has a clear disciplined growth strategy against which we are making strong progress. We have begun the search for Greg’s successor; Greg is committed to ensuring a smooth transition and will leave the business in a strong position for his successor.”  

Greg Fitzgerald, Chief Executive, said:

"After 33 very enjoyable years at Galliford Try I have decided to retire no later than the end of 2015.  My decision is a personal one and I am fully committed to delivering the Company’s growth strategy.  As our full year results announced today demonstrate, the Group is in great shape, with a strong management team, and very well equipped for the future.”

For further enquiries:

Galliford Try plc

Ian Coull, Chairman

01895 855001

Tulchan Communications

Christian Cowley

James Macey White

Giles Kernick

020 7353 4200


Monday, 15 September 2014 @ 08:17

Galliford Try Joint Venture Appointed To Build Over 1,100 Homes At Silvertown Way

Galliford Try plc, the housebuilding and construction group, announces that it has been selected as preferred developer by Greater London Authority (GLA) to construct the Silvertown Way development in Canning Town, East London.

The prestigious development, which will create over 1,100 mixed tenure homes across 11 individual blocks, has an approximate gross development value of £360 million, making it the largest standalone housing scheme that the company has undertaken. The project will be delivered through an existing joint venture vehicle with Thames Valley Housing Association and deliver a third of the homes as market rent for its subsidiary Fizzy Living.

Three of the Galliford Try Group companies: Linden Homes, Galliford Try Partnerships and Galliford Try Infrastructure will deliver the development which includes homes for sale, rent and shared ownership, a hotel, restaurant, employment and commercial space.

In addition, Galliford Try has been appointed as preferred developer for a further 210-home regeneration scheme in the Bristol region by the Homes and Communities Agency’s (HCA’s) Delivery Partner Panel. The scheme is anticipated to have a gross development value of approximately £40 million.

Galliford Try Chief Executive Greg Fitzgerald commented: “We are delighted to have been selected for both these schemes which underline our strong relationship with the GLA and HCA. These schemes are testament to the combined resources of the group and our proven expertise in regeneration and affordable housing projects. It underlines our continued investment in delivering much needed homes and working in long-term partnerships with our partners in the sector.”

  

Galliford Try -                Greg Fitzgerald, Chief Executive                        01895 855001

                                    Graham Prothero, Finance Director


Friday, 12 September 2014 @ 09:01

Galliford Try Secures Frameworks With Southern Water Worth A Total Of £430 Million

Galliford Try plc, the housebuilding and construction group, announces that its infrastructure business has, through its joint ventures, been appointed by Southern Water as a Delivery Partner for its AMP6 framework.


The total contract value is £430 million and the appointment is anticipated to be worth approximately £215 million to Galliford Try. The design and build framework will commence in 2015 and run until 2020, with an option to extend a further five years to 2025.


Galliford Try has secured one of two process lots in a joint venture, called GTM, with Imtech and supported by strategic design partner Atkins. The majority of the work on the secured process lot, worth up to £250 million, will focus on water supply and wastewater treatment works.


Galliford Try has also secured both the water and wastewater network lots in a joint venture, called MGjv, with Morrison Utility Services and supported by strategic design partner AECOM. The lots, worth up to £180 million, involve upgrades to water supply and wastewater pipelines and pumping stations.


Greg Fitzgerald, Chief Executive of Galliford Try plc, commented:  "We are delighted to have secured such a substantial amount of long-term business. We look forward to working again with Southern Water and bringing the benefit of our experience of collaboration across the UK water sector to the company and its customers."

For further enquiries: 

Galliford Try -                 Greg Fitzgerald, Chief Executive              01895 855001

                                    Graham Prothero, Finance Director