Galliford Try (GFRD) Investor presentation summary

Strategic growth and business model

• Focus on sustainable growth through disciplined risk management and selective bidding, resulting in a high-quality order book and strong balance sheet.

• Operates across key UK sectors: environment, defence, health, education, infrastructure, and affordable homes, with specialist services in digital infrastructure and facilities management.

• Growth strategy targets revenue and margin expansion in core and specialist businesses, leveraging geographic and client footprint.

• Framework-based contracting and early contractor involvement drive long-term visibility, risk mitigation, and quality outcomes.

Financial performance and outlook

• Achieved fifth consecutive year of sequential growth, with FY25 revenue up 6.3% to £1.9bn and adjusted profit before tax up 28.6% to £45.0m.

• Divisional adjusted operating margin rose to 3.0%, one year ahead of target, with strong cash position and no drawn bank debt.

• Order book increased to £4.1bn, with 92% of FY26 and 75% of FY27 work secured.

• Consistent cash conversion supports increased dividends and share buybacks, with a clear capital allocation policy.

Divisional highlights

• Building division saw revenue growth in education, custodial, and defence sectors, with a 17.1% profit increase and margin up 36bps.

• Infrastructure division revenue grew 11.3%, driven by highways and environment, with margin up 50bps and strong order book visibility.

• Investments division continues to generate annuity income, with first PRS development financial close in FY24.