Research on Galliford Try Holdings PLC (GFRD:LON) from Capital Access Group
Galliford Try reported its sixth consecutive year of growth with its results to June. An increase of 3.0% YoY in revenue to £1,931.1m translated into a 24.2% jump in adjusted profit before tax to £55.9m, exceeding expectations. The full-year dividend was increased by 23.7% to 23.5p and the company announced a further share buyback programme of £15m to be completed in FY27. The strong profit performance reflected a 53bps increase in the divisional adjusted operating margin to 3.5% implying a significant improvement in 2H26. Galliford Try is guiding for similar revenue growth in FY27 with further profitability and margin expansion which will likely drive another round of increases in consensus profit forecasts. The company is well on its way to meeting its 2030 targets and continues to deliver strong cash conversion paving the way for accretive acquisition or further share buybacks, potentially accelerating growth in EPS ahead of that implied by the 2030 plan, together with the earnings linked dividend.
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