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, 18 March 2015 @ 09:29

Galliford Try Appointed To Two Major Public Sector Frameworks

Galliford Try plc, the housebuilding and construction group, announces it has been appointed to two major public sector construction frameworks in the South and North West of England.

Firstly, Galliford Try has been selected as one of six contractors featuring on all three lots of the Southern Construction Framework, covering the South West, South East and London - a further two contractors have been selected for two regions, and two more for just one region.

The four year framework is worth up to £3.9 billion for publicly procured projects from £1 million upwards in value. The framework is open to all public bodies and local and central government in the Southern region to deliver individual projects or programmes including new build and refurbishment of buildings.

Secondly, Galliford Try has also been confirmed as one of 11 contractors on the Medium Value lot (projects from £2 million to £9 million) of the North West Construction Hub worth up to £400 million over four years. Galliford Try was previously appointed to the High Value lot (projects upwards of £9 million) of the framework in July 2014. The framework again provides a procurement platform for construction services to public sector bodies across the North West.

Galliford Try Executive Chairman Greg Fitzgerald commented: "We are delighted that our strategy of pursuing frameworks with public sector partners continues to bear fruit. Long-term collaboration is a cornerstone of our Building business and we look forward to working with all those organisations involved in these frameworks to produce high-quality public buildings that add to the fabric of the nation."

For further enquiries:

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

Wednesday, 11 March 2015 @ 10:08

Galliford Try Reaches Close On £186 Million In Education Contracts

Galliford Try plc, the housebuilding and construction group, announces it has reached financial close with the Education Funding Agency (EFA) over the Priority School Building Programme (PSBP) batch for North East England and with Flintshire Council for the Holywell Learning Campus in North Wales.

The £160 million PSBP contract represents a considerable milestone for Galliford Try and the EFA, becoming the first batch funded by the Government's new Private Finance - model 2 (PF2) aggregator model to reach financial close in the country.

The construction contract is worth over £103 million, with a further £56.6 million coming through a 25-year maintenance and lifecycle contract for Galliford Try's Facilities Management business. The programme will provide new, purpose-built facilities which will benefit more than 8,350 pupils across the region, as well as providing 188 nursery places. A total of six new secondary schools will be constructed along with six primary schools. In line with our PPP strategy Galliford Try Investments will retain an equity stake in the project.

The project is part of the wider PSBP, a centrally managed programme set up to address the needs of the schools most in need of urgent repair. Through the programme, 260 schools will be rebuilt or have their condition needs met by the Education Funding Agency (EFA).

In addition, Galliford Try's Building business has signed contracts with Flintshire Council to build the Holywell Learning Campus in North Wales, as part of the Welsh Government's 21st Century Schools programme.

The £26 million project was procured through the North Wales Schools and Public Buildings Contractor Framework and creates new primary and secondary schools, with the single storey primary school offering 315 pupil places, replacing the current local infants and junior schools. The three storey secondary school will offer 600 places and replace the existing High School on the site.

Galliford Try Executive Chairman Greg Fitzgerald commented: "It is tremendous news for our business to have reached financial close on these two significant education contracts. Our ability to conclude the contract with the EFA successfully demonstrates the strength of our Investments business in offering innovative solutions to unlock projects, while the Holywell contract is proof of our excellent construction offering in education and our growing prominence in the North Wales market."

For further enquiries:

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

Wednesday, 18 February 2015 @ 07:00

Galliford Try Plc Half Year Report for the Six Months to 31 December 2014

GALLIFORD TRY PLC - HALF YEAR REPORT FOR THE SIX MONTHS ENDED 31 DECEMBER 2014

CONTINUING STRONG PERFORMANCE: DISCIPLINED GROWTH AND DIVIDEND ENHANCEMENT

Financial H1 2015 H1 2014 Change
Group revenue ¹ £1,085.4m £803.5m +18%
Profit before tax £42.5m £38.1m +18%
Earnings per share 42.0p 36.8p +18%
Dividend per share 22.0p 15.0p +25%
Net debt £35.9m £85.9m + £27.7m
Group return on net assets ² 20.1% 17.1% + 2.2 ppts
       
Profit before tax, pre-exceptional ³ £45.9m £38.0m +21%
Earnings per share, pre-exceptional ³ 45.5m 36.7m +24%

Group

  • Record results and excellent progress on our disciplined growth strategy to 2018.
  • Interim dividend up 47%, reflecting our strong performance.
  • Further enhancement of our progressive dividend policy aiming to reduce cover from 1.7x to 1.5x.
  • Net debt of £35.9 million (H1 2014: £85.9 million), despite the increase in the landbank.
  • Existing £400 million unsecured bank facility extended to 2020 on improved terms; new £100 million interest rate hedge.
  • Successful completion of integration of the Miller Construction business.

Housebuilding

  • Linden Homes revenue up 5% to £346.1 million (H1 2014: £328.2 million) from 1,364 unit completions, 1,278 units net of joint venture partner share (H1 2014: 1,300 and 1,230 respectively).
  • Linden Homes operating margin rose to 15.1% (H1 2014: 13.5%), including planned land sales, in line with both our strategy and our margin enhancement programme.
  • Galliford Try Partnerships revenue, including both contracting and mixed tenure, up 56% to £157.6 million (H1 2014: £100.9 million) generating an operating margin of 2.3% (H1 2014: 1.9%).
  • Strong Galliford Try Partnerships contracting order book of £650 million (H1 2014: £500 million) which excludes the appointment as preferred developer for the £360 million Silvertown Way development in Canning Town.
  • Total sales currently reserved, contracted and completed across Linden Homes and Galliford Try Partnerships of £747 million (H1 2014: £744 million).
  • Record landbank of 14,300 plots with the land market continuing to be positive. 100% of land secured for 2016 and 70% of land secured for 2017.

Construction

  • Construction margin of 1.0% (H1 2014: 1.4%, FY 2014: 1.0%) in line with our expectations as we work through historical projects, and helped by the Miller Construction acquisition.
  • Exceptional order book at £3.25 billion (H1 2014: £1.25 billion) and further visibility of an excellent pipeline of opportunities. 100% of projected revenue now secured for the current financial year with a record 75% secured for 2016 (31 December 2013: 100% and 65% respectively).
  • Strong cash balance of £158.0 million underlining the robust performance of the business (H1 2014: £121.5 million).

Greg Fitzgerald, Executive Chairman, commented:

"We are very pleased with the Group’s strong performance in the six months to 31 December 2014 with our housebuilding and construction businesses both performing well, and are encouraged by the start we have made to the second half of the year.

Linden Homes’ sales rate has increased since 1 January 2015. Housing market conditions remain good and we are optimistic about the prospects for a number of recent and forthcoming sales outlets. Our Partnerships business continues to see exceptional demand for contracting in the affordable housing market and the development business is growing in line with plan. Our enlarged Construction business has a record order book of £3.25 billion with the Miller Construction integration now completed.

We are making good progress with the search for a new Chief Executive.

We have increased the interim dividend by 47% and, reflecting our continuing confidence in the delivery of our disciplined growth strategy, we are further enhancing our dividend policy."

For further enquiries:

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

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

Galliford Try will hold its half year results presentation for analysts and institutional investors at 09:30 am on Wednesday 18 February 2015 at The London Stock Exchange, 10 Paternoster Square, London, EC4M 7LS. A live audio webcast will be available at www.gallifordtry.co.uk/investors with a recording available later.  A video interview with Graham Prothero, Finance Director, on the results will be available at www.gallifordtry.co.uk.

¹  ‘Group revenue’ excludes share of joint ventures of £39.2 million (H1 2014: £32.5 million). ‘Revenue’ where stated throughout this half year report includes share of joint ventures.

²  Group return on net assets represents profit before tax, exceptional items, finance costs and amortisation divided by average net assets.

³   Exceptional costs in 2014 of £3.4 million relate to the integration of Miller Construction.

Thursday, 12 February 2015 @ 08:39

Galliford Try Reaches Agreement on £40 Million Headquarters for Northamptonshire County Council

Galliford Try plc, the housebuilding and construction group, announces its Building business has reached financial close on the new landmark headquarters for Northamptonshire County Council in a contract worth £40 million.

The new 17,600 sqm four-storey building is part of a strategy to consolidate the Council's existing offices, and regenerate an area on the south side of Northampton town centre as part of the Northampton Alive initiative. In addition to the office space and car parking, a café will be created together with extensive hard landscaping around the site.

Galliford Try Executive Chairman Greg Fitzgerald commented: "We are delighted to have been appointed to such a significant project for Northamptonshire County Council. Our presence within the East Midlands region continues to grow and we look forward to delivering high quality facilities for the Council's staff and the local people accessing their services."

For further enquiries:

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

Thursday, 29 January 2015 @ 08:58

Galliford Try Secures Extra Care Contracts worth Combined £72 Million

Galliford Try plc, the housebuilding and construction group, through its Partnerships business announces that it has been successfully appointed to four new major contracts in the extra care and affordable housing sectors, worth a combined £72 million.

Firstly, Partnerships has signed contracts with the ExtraCare Charitable Trust (ECCT) for its new £36 million retirement village set in five acres of land on the former MG Rover plant in Longbridge, south west of Birmingham.

The new development will create 260 apartments (105 one-bed and 155 two-bed apartments) for the over 55s and feature a village centre that includes a village hall, bar, restaurant, gym, IT suite, hair and beauty salon and shop. The project marks the sixth development of this kind that Galliford Try has constructed for the ECCT.

Secondly, financial close has been reached on the £18 million scheme to build the new 135-bed 'Village 135' extra care facility for Wythenshawe Community Housing Group.

The project consists of two sites connected by a glass-enclosed pedestrian walkway and will provide a range of facilities for residents including a salon, cafeteria and main kitchen, a winter garden and roof terrace with planting area. The scheme will provide a mix of 66 apartments for affordable rent, 39 apartments for shared ownership and 30 apartments for outright sale.

Finally, One Housing Group has appointed Galliford Try to two new contracts that will deliver the Protheroe House (£9.2 million) and Pretoria Road (£9 million) developments in North London.

The Protheroe House scheme will create a 50-bed extra care facility in Haringey including a large communal garden, roof terrace, hobby room and well-being centre as part of the development. The Pretoria Road project will see the construction of 44 one-bed and eight two-bed properties in Hackney. Eight of the homes are specifically designed to be dementia friendly.

Galliford Try Executive Chairman Greg Fitzgerald said: "Galliford Try's track record in extra care developments is second to none and we are delighted that the ExtraCare Charitable Trust, Wythenshawe Community Housing Group and One Housing Group have placed their trust in us to deliver the high quality facilities their customers deserve."

For further enquiries:

Galliford Try -                 Greg Fitzgerald, Executive Chairman                   01895 855001

                                     Graham Prothero, Finance Director

Tuesday, 13 January 2015 @ 08:49

Galliford Try Reaches Agreement On £31.2 Million Greenfaulds High School

Galliford Try plc, the housebuilding and construction group, announces that its Morrison Construction business has achieved financial close on the £31.2 million Hub South West Scotland Ltd contract for North Lanarkshire Council to build the new Greenfaulds High School as part of the Council's Schools and Centres 21 scheme.

Morrison Construction will carry out the construction, providing a like for like replacement of the existing high school in Cumbernauld.  In addition Galliford Try will invest £0.7 million in the funding for the project. 

Galliford Try Executive Chairman, Greg Fitzgerald stated:  "The successful financial close of Greenfaulds High School follows closely behind the announcement by North Lanarkshire Council to award Morrison Construction a place on their £100 million framework. We look forward to working with the Council to create buildings that will serve the whole community, as well as significantly enhancing the facilities for education in the region."

For further enquiries:

Galliford Try -     Greg Fitzgerald, Executive Chairman       01895 855 001

                        Graham Prothero, Finance Director

Wednesday, 07 January 2015 @ 08:30

Galliford Try Plc – Trading Update 7 January 2015

Galliford Try plc, the housebuilding and construction group, today provides the following update on trading for the half year ended 31 December 2014.  The Group expects to announce its results for the half year on 18 February 2015.

Group

  • The Group continues to trade well and in line with our expectations.
  • Net debt below £40 million (31 December 2013: £85.9 million) despite the increase in the landbank.
  • Miller Construction integration has proceeded very well and is substantially complete ahead of plan.
  • Last month the Group was reclassified into the FTSE Home Construction sub sector.

Housebuilding

  • Solid performance with rates of sale and prices in line with our expectations.
  • Revenue is expected to be up on the prior half year period, from 1,529 unit completions, 1,404 net of joint venture partners’ share (2013: 1,359 and 1,279).
  • Strong in hand position with total sales reserved, contracted and completed at £645 million from a lower number of average selling outlets (2013: £652 million).  Outlets are expected to increase from an average of 67 in the first half to 75 in the period January to June 2015.
  • Record landbank of 14,050 plots with the land market continuing to be positive.  98% of land secured for 2016.
  • We expect Linden Homes’ operating margin to improve compared to the same period last year.
  • Average Linden Homes selling price up 7% at £310,000 (2013: £291,000). The average selling price for affordable sales was £121,000 (2013: £122,000) producing a combined average selling price of £259,000 (2013: £255,000).
  • Linden Homes’ unit sales per outlet per week at 0.51 is in line with last year (2013: 0.52) with rates increasing in the last quarter following a quieter summer.  Cancellation levels continue to remain around the long term average at 19% (2013: 19%).
  • Continuing excellent progress and revenue growth in Galliford Try Partnerships including major project wins in the period.

Construction

  • Exceptional order book of £3.2 billion (2013: £1.75 billion) with a number of major project wins in the period and further visibility of an excellent pipeline of opportunities.
  • Enlarged business benefiting from high quality clients and diverse future revenues with 21% of order book in the regulated sector, 59% in public and 20% in private (2013: 19%, 52% and 29% respectively).
  • We continue to prioritise risk management and margin protection in an improving market.  Margins continue to be constrained due to the completion of historical projects.
  • 98% of projected revenue for the current financial year secured with 72% for the year 30 June 2016 (31 December 2013: 98% and 62% respectively).

Greg Fitzgerald, Executive Chairman, commented:

It has been another strong performance for the Group in the first half of the financial year with our housebuilding and construction businesses both performing in line with our expectations. Housing market conditions remain good with growth having moderated to a more normal and sustainable level, and we are optimistic about the prospects for a number of recent and forthcoming sales outlets.  Our Partnerships business continues to see exceptional prospects for both contracting and development in the affordable market.  Following the acquisition of Miller Construction in July 2014 our enlarged Construction business is benefitting from an improving market.  We remain confident in the delivery of our strategy of strong and disciplined growth across all of our businesses."

 

For further enquiries: 

Galliford Try        Greg Fitzgerald, Executive Chairman                01895 855001

                          Graham Prothero, Finance Director

 

Tulchan Communications    Christian Cowley                               020 7353 4200

                                    James Macey White

                                    Giles Kernick

 

Tuesday, 06 January 2015 @ 08:15

Galliford Try Reaches Agreement on £48.5M Wick Community Campus

Galliford Try plc, the housebuilding and construction group, announces that its Morrison Construction business has achieved financial close on the £48.5 million Hub North Scotland Ltd contract with The Highland Council to deliver a community campus in Wick.

Morrison Construction will carry out the construction of The Wick Community Campus project which will replace the existing Wick High School, South Primary School, Pulteneytown Academy Primary School, the Carnegie Library and the community swimming pool. Construction has commenced on site and is expected to be completed by September 2016.

In addition, Galliford Try will invest £1.6 million in funding for the project and will provide ongoing hard facilities maintenance and lifecycle management services in a contract worth approximately £13 million over the 25 year concession period.

Galliford Try Executive Chairman Greg Fitzgerald stated: "We are delighted to have reached agreement with our partners at Hub North Scotland and the Highland Council on such an important project. Morrison Construction has a proven track record in providing public sector facilities across Scotland and we look forward to working with Hub North Scotland and the Highland Council to provide the high quality school and community facilities that the local community in Wick deserves."

For further enquiries:

Galliford Try - Greg Fitzgerald, Executive Chairman    01895 855001

                     Graham Prothero, Finance Director

 

Monday, 05 January 2015 @ 09:01

Galliford Try Reaches Agreement on £45.2M Royal Edinburgh Hospital

Galliford Try plc, the housebuilding and construction group, announces that its Morrison Construction business has achieved financial close on the £45.2 million Hub South East Scotland Ltd contract for NHS Lothian to build and operate the first phase of the redevelopment of the Royal Edinburgh Hospital.

Morrison will carry out the construction, providing a new state-of-the-art specialist mental health facility on the western edge of the existing campus in Morningside, Edinburgh. A new national brain injuries unit will be incorporated in an adjacent building to replace the existing Robert Fergusson Unit. In addition, Galliford Try will invest £2.2 million in the funding for the project and will also provide ongoing hard facilities maintenance and lifecycle management services in a contract worth approximately £18.5 million over the 25 year concession period.

Galliford Try Executive Chairman, Greg Fitzgerald stated: "Our relationship with Hub South East Scotland Limited is an important element of our Morrison Construction business in Scotland and we are pleased to be selected for this significant health project for NHS Lothian. We look forward to successfully delivering this project for our client and wider stakeholders, and in turn provide the local community with an enhanced built environment and improved facilities."

For further enquiries:

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