Galliford Try (GFRD) Investor Presentation summary

Strategic direction and growth targets

• Aims to grow revenue and margin in three core businesses and expand into higher-margin adjacent markets by 2030, targeting revenue above £2.2bn and a divisional adjusted operating margin of 4.0%.

• Plans to re-enter the affordable homes market and leverage a broad UK client footprint for further growth.

• Focuses on consistent, predictable performance through disciplined risk management and selective bidding.

• Maintains a high-quality order book with 92% repeat clients and 84% of work in frameworks, providing strong pipeline visibility.

• Frameworks and negotiated contracts provide long-term visibility and improved risk allocation.

Financial performance and shareholder returns

• Achieved 12.7% year-on-year revenue growth to £923m and a 25.5% increase in adjusted operating profit to £17.7m for H1 2025.

• Interim dividend per share rose 38% to 5.5p, with adjusted EPS up 11.3% to 15.7p.

• Maintains a strong balance sheet with £210m period-end cash, no bank debt or pension liabilities, and a £25m undrawn revolving credit facility.

• Total shareholder returns since July 2021 reached 247%, with £84m returned through dividends, special dividends, and share buybacks.

• Adjusted performance measures now exclude amortisation of acquired intangibles, aligning with sector standards.

Operational highlights and market positioning

• Building and infrastructure segments both delivered margin improvements, with infrastructure revenue up 24.8% year-on-year.

• High-quality £3.9bn order book, with 99% procured via negotiation and 92% repeat clients.

• Leading provider in water sector, working with all major UK water and sewerage companies and holding 55 water frameworks.

• Recent contract wins include major projects in defence, commercial, water, and specialist services.

• Modern Methods of Construction and digitalisation drive efficiency, quality, and carbon savings.