Just weeks after shocking shareholders with a near-£100m hit from legacy contracts, UK construction group Galliford Try is lining up a more pleasant surprise.
In a trading update on Tuesday, the group said it expects its full-year results in September to show profits “towards the upper end of the analysts’ range”, which is between £46m and £59m.
“As we enter the new financial year, we are cautious about the impact of the current political uncertainty following the general election and the medium-term outlook for the macro economy,” said CEO Peter Truscott.
“However, all three businesses have clearly defined plans to improve operating efficiency and grow revenue and margins, providing the Group with confidence in its ability to deliver a strong performance even in a period of lower growth in the wider economy.”
The company added that there is no change in the one-off £98m cost announced in May.