News Galliford Try Post Record Profits

Galliford Try says it expects to post a record half year profit for the last six months of 2013, while a strong performance from its construction division means an expected rise in net debt has not been as steep as anticipated.

In a trading update ahead of the release of its results in February, the group says net debt at the end of the second half stood at £90m, up from £58m the same time the year before.

In construction it says focusing on cash management and margin protection has reaped rewards with and order book at £1.75bn compared with £1.6bn in 2012.

The public/private spread of its future order book also remains broadly the same.

Speaking about the construction division, chief executive Greg Fitzgerald said: “Construction is performing well in challenging markets with the prospects looking better as our pipeline of opportunities continues to increase. We are confident that our disciplined strategy will deliver further good growth and improved returns this year and beyond.”

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