Topic Business
Date 23 May 2024
Galliford Try has announced its updated Sustainable Growth Strategy to 2030, having consistently delivered increased revenue and divisional operating margin and progressed its original 2026 strategic targets ahead of plan.
The updated Sustainable Growth Strategy will continue to develop both the Group's core and adjacent markets, targeting an increased margin across the Group of 4.0%, up from the previous 3.0%.
Revenue is targeted to exceed £2.2bn, up from its current £1.4bn, while retaining a strong balance sheet and cash position. The Board also remains committed to sustainable returns for shareholders, targeting sustainable dividends with an earnings cover of 1.8x.
Higher margin opportunities will come from adjacent markets including Affordable Homes, capital maintenance and asset optimisation within water, Green Retrofit, Private Rented Sector (PRS) and the Group’s Specialist Services businesses, including fire protection, active security and Facilities Management.
Continued growth will be delivered in existing markets within Building and Infrastructure, with visible high-quality pipelines in key sectors such as Environment, Defence, Education, Custodial and Highways remaining strong into the future as the Group leverages its national footprint, core capabilities, excellent client, supplier and community relationships and geographic footprint.
Bill Hocking, Chief Executive for Galliford Try, commented: “Galliford Try has consistently delivered controlled growth and exceptional performance since 2021 when we set first out our Sustainable Growth Strategy and financial targets to 2026.
“Our updated strategy to 2030, which we announce today, reflects the Group’s strong performance since 2021 and is designed to continue the Group’s disciplined growth, focusing on high-margin opportunities, as well as provide long-term sustainable value for our stakeholders.
“The strong momentum in the business and our confidence in the outlook is a reflection of our disciplined strategy, committed people and long-established relationships with our supply chain and clients. I look forward to building further on these as we look to the future with confidence.”