Galliford Try reports profit growth and announces share buyback

Galliford Try, a construction and infrastructure group, reported full-year adjusted pre-tax profits of £55.9 million for the year ending June 30, representing a 24.2% increase from the previous year. Revenue rose 3% to £1.93 billion, supported by performance in the highways and water sectors.

Following a sixth consecutive year of growth and a debt-free position with £259 million in net cash, the company's board has authorized a new £15 million share buyback plan. This follows a previous £10 million buyback completed earlier in the year. Additionally, the total dividend was increased by 23.7% to 23.5p per share.

The group maintains a £4.3 billion order book across various sectors, including water, highways, education, and defense. While the building division saw a slight revenue dip due to public sector contract delays, its operating profit rose 17.8%. Chief Executive Bill Hocking attributed the success to disciplined risk management and project selection.