Firm still talking to government about taking over jobs from collapsed ISG

Galliford Try issued an upbeat interim trading update this morning, saying it was on track to see full year profits jump more than 10%.

The firm, which is believed to be in talks with the Ministry of Justice about taking over some of collapsed contactor ISG鈥檚 prison jobs, said analysts were expecting pre-tax profit for the year to June to be between 拢34m and 拢35.4m 鈥� up from the previous figure of 拢31m. Revenue for the period is expected to edge up from last year鈥檚 拢1.8bn.

Chief executive Bill Hocking said: 鈥淓ncouraged by our performance in the first six months of the year and the robust outlook, our expectations for the full year to June 2025 have improved accordingly.鈥�

Bill Hocking

Chief executive Bill Hocking said its full year forecasts have headed north on the back of positive trading in the first half

In its update for the six months to December 2024, the firm said trading was ahead of expectations with average month-end cash in 2024 standing at 拢176.4m, up from 拢154.8m at the year-end in June.

It added: 鈥淲e believe the Group鈥檚 strong balance sheet differentiates our ability to secure high quality contracts and frameworks, attract a highly skilled supply chain and continue to invest in the business whilst providing incremental returns to shareholders.鈥�

The firm鈥檚 order book at the period end was up 拢200m to 拢3.9bn. Galliford Try is due to release its half year results on 5 March.

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