Fact sheet
Galliford Try is a leading construction group, carrying out building and infrastructure works across the UK
Our purpose
Revenue1
£590.8m
Our purpose is to improve people's lives through building the facilities and infrastructure that communities need, providing opportunities for our people to learn, grow and progress, working with our supply chain to promote the very best working practices and caring for the environment.
Our business
Operating as Galliford Try and Morrison Construction, our work for public and private sector clients is well balanced and extensive.
We are focused on the health, education, defence, custodial, highways and environment sectors, where we have core and proven expertise, and a strong pipeline, as well as our growing capabilities in FM and the Private Rented Sector.
At 30 June 2023, we had 3,900 employees, with 6.3% of them in graduate, apprentice or trainee roles.
Key strengths
- Well-capitalisedand debt-free.
- Disciplined approach to project selection and rigorous risk management.
- Strong, long-term, collaborative client and supply chain relationships.
- Public and regulated sector investment is driving robust demand in our chosen markets, where we are on key frameworks.
- Growing capability in higher margin activities such as capital maintenance.
- Our investment in digital and technical is delivering greater efficiency for clients, and driving down carbon.
Building£1.4bn Infrastructure
£797.1m
Average
month-end£150m cash2
Order book3 | 13% | ||
Public and regulated | £3.7bn | ||
Blue chip private |
87%
Order book by sector3
Building | Total £2.2bn |
Education | £593m |
Defence and custodial | £696m |
FM | £335m |
Health | £79m |
Commercial & other | £519m |
Infrastructure | Total £1.5bn |
Highways | £562m |
Environment | £894m |
- Full year to 30 June 2023. 2 Six months to 31 December 2023.
- As at 31 December 2023.
Sustainable Growth Strategy
Our strategy targets sustainable growth from a baseline of FY21 and aligns profit with purpose. Sustainability, driven by digitalisation, decarbonisation and social value, is at its heart, responding to stakeholder needs and increasing the long-term operational and financial performance of our organisation. Our focus is on margin growth, with revenue targeted where our markets support growth.
Health & Safety
Our people
Clients
Supply chain
d | .. | |||||||||||||||||||||||||||||||||||||
e | ||||||||||||||||||||||||||||||||||||||
t | .t | |||||||||||||||||||||||||||||||||||||
ta | h | |||||||||||||||||||||||||||||||||||||
n | at | |||||||||||||||||||||||||||||||||||||
ie | o | |||||||||||||||||||||||||||||||||||||
r | … | |||||||||||||||||||||||||||||||||||||
o | p | |||||||||||||||||||||||||||||||||||||
e | r | e | ||||||||||||||||||||||||||||||||||||
- | r | |||||||||||||||||||||||||||||||||||||
e | u | e | r | |||||||||||||||||||||||||||||||||||
l | lt | s | a | |||||||||||||||||||||||||||||||||||
p | u | p | t | |||||||||||||||||||||||||||||||||||
o | c | o | s | |||||||||||||||||||||||||||||||||||
e | e | s | i | |||||||||||||||||||||||||||||||||||
p | iv | b | n | |||||||||||||||||||||||||||||||||||
a | s | i | ||||||||||||||||||||||||||||||||||||
e | ||||||||||||||||||||||||||||||||||||||
n | e | s | Sustainable | l a | ||||||||||||||||||||||||||||||||||
io | r | s | ||||||||||||||||||||||||||||||||||||
a c | ||||||||||||||||||||||||||||||||||||||
m | p | o | g | y i | ||||||||||||||||||||||||||||||||||
. a | ||||||||||||||||||||||||||||||||||||||
. l | ||||||||||||||||||||||||||||||||||||||
a | r | Growth | . l | |||||||||||||||||||||||||||||||||||
p | ||||||||||||||||||||||||||||||||||||||
h | y | |||||||||||||||||||||||||||||||||||||
C | 2026 revenue target | |||||||||||||||||||||||||||||||||||||
£1.6bn | ||||||||||||||||||||||||||||||||||||||
(FY21: £1.1bn) | ||||||||||||||||||||||||||||||||||||||
u t | 2026 divisional operating | e | ||||||||||||||||||||||||||||||||||||
i o | l | |||||||||||||||||||||||||||||||||||||
. | ||||||||||||||||||||||||||||||||||||||
b . | ||||||||||||||||||||||||||||||||||||||
. | ||||||||||||||||||||||||||||||||||||||
i | margin target | b | ||||||||||||||||||||||||||||||||||||
a | ||||||||||||||||||||||||||||||||||||||
l | l | n | ||||||||||||||||||||||||||||||||||||
d d | i | |||||||||||||||||||||||||||||||||||||
g i | ||||||||||||||||||||||||||||||||||||||
n e | 3.0% | s t | a | s | ||||||||||||||||||||||||||||||||||
a e | ||||||||||||||||||||||||||||||||||||||
s v | u | r | n | . | ||||||||||||||||||||||||||||||||||
n r | (FY21: 2.0%) | |||||||||||||||||||||||||||||||||||||
h | s | t | u | |||||||||||||||||||||||||||||||||||
d i | e | |||||||||||||||||||||||||||||||||||||
g | ||||||||||||||||||||||||||||||||||||||
i | h | id | e | |||||||||||||||||||||||||||||||||||
n | - | v | r | |||||||||||||||||||||||||||||||||||
f | q | o | l | |||||||||||||||||||||||||||||||||||
a | u | r | ia | |||||||||||||||||||||||||||||||||||
r | a | c | ||||||||||||||||||||||||||||||||||||
s | p | |||||||||||||||||||||||||||||||||||||
li | d | n | ||||||||||||||||||||||||||||||||||||
t | t | n | ||||||||||||||||||||||||||||||||||||
r | y | a | a | |||||||||||||||||||||||||||||||||||
u | … | n | ||||||||||||||||||||||||||||||||||||
c | ||||||||||||||||||||||||||||||||||||||
t | fi | |||||||||||||||||||||||||||||||||||||
u | ||||||||||||||||||||||||||||||||||||||
re | ||||||||||||||||||||||||||||||||||||||
… |
Environment & climate change
Communities
Sustainable returns
Growth via existing markets
Building.
Highways.
Environment (including Water).
Growth via adjacent markets
Private Rented Sector (PRS).
Capital maintenance and asset optimisation within the existing Environment sector.
Green retrofit.
Our targets | 11 | 3 | e | ||||||||||
a t | 6 | ||||||||||||
s | |||||||||||||
9 | nitie | saf ety | En | ||||||||||
u | |||||||||||||
m | c vi | ||||||||||||
m | li | r | |||||||||||
o | mao | ||||||||||||
C | em | ||||||||||||
tn | |||||||||||||
ce | |||||||||||||
hn | |||||||||||||
at | |||||||||||||
n | |||||||||||||
g& | |||||||||||||
7 | Our | ||||||||||||
n | pillars | ||||||||||||
KPIs for our strategy period to 2026 are measured on a full year basis. Our performance gives us | C | le | |||||||||||
l | |||||||||||||
i | |||||||||||||
e | |||||||||||||
t | |||||||||||||
s | |||||||||||||
confidence to update our strategy to 2030 at a Capital Markets Event on 23 May 2024. | pe | o p | |||||||||||
4 | ur | ||||||||||||
Sup | ply | O | |||||||||||
c | |||||||||||||
hain | |||||||||||||
12 | 8 | ||||||||||||
10 | |||||||||||||
Strategic priorities | Sustainability pillars | Objective | FY23 | 2026 ambition | |||||||||
Health and | Lost Time Incident Rate | 0.20 | No harm | ||||||||||
Progressive culture | HEALTH safety | Accident Frequency Rate | 0.09 | No harm | |||||||||
Early careers as % total employees | 6.3% | >8% | |||||||||||
Our people | Women as a % of total employees | 21.6% | YoY increase | ||||||||||
Employee advocacy | 86% | >80% | |||||||||||
Environment | Scope 1 and 2 carbon emissions (CO2e tonnes) | 11,822 | Net zero by 2030 | ||||||||||
and climate | Scope 3 carbon emissions (CO2e tonnes) | 477,042 | Net zero by 2045 | ||||||||||
Socially responsible | change | Waste intensity (tn/£100K revenue) | 21.8 | YoY reduction | |||||||||
delivery | % of completed projects delivering >25% of Social and Local | 94% | 60% | ||||||||||
Communities | Economic Value as % of contract value | ||||||||||||
43.4 (industry | |||||||||||||
CCS performance | >39 and above industry ave | ||||||||||||
ave. 40.0) | |||||||||||||
Clients | % of repeat business in order book | 87% | >80% | ||||||||||
Quality and | % full year planned revenue secured at start of the financial year | 92% | >85% | ||||||||||
innovation | Supply chain | % business unit core trades spend with Aligned subcontractors | 58% | 70%-80% | |||||||||
Prompt payment - % of invoices paid within 60 days | 98% | >95% | |||||||||||
SUPPLY CHAIN | |||||||||||||
Objective | FY23 | 2026 target | |||||||||||
Focus on bottom line margin growth. | 2.4% | Divisional operating margin | |||||||||||
growth to 3.0%. | |||||||||||||
Sustainable | Disciplined contract selection and sustainable revenue growth. | £1,394m | Revenue growth towards £1.6bn. | ||||||||||
financial returns | Maintain strong balance sheet. | Average month-end | Operating cash generation. | ||||||||||
cash £135m | |||||||||||||
Sustainable dividends. | Dividend cover of 1.8x | Dividend cover of 1.8x. |
13
5
Risk management
Assessing and managing risks and uncertainties is the central element of our process and business strategy. Commercial control and rigorous risk management are an integral part of our strategy. We achieve this through our:
- Focus on margin improvement as we grow.
- Disciplined approach to project selection including:
- Ensuring appropriate terms and conditions for each project.
- Employing margin thresholds.
- Peer reviews of bids and contract reporting.
- Board approval for all bids with specific risk factors or with a value of over £25m.
- Aligned and informed supply chain.
- Clear management reporting lines.
More information: | Follow us: |
Investor.relations@gallifordtry.co.uk | twitter.com/gallifordtry |
gallifordtry.co.uk/investors | linkedin.com/company/galliford-try-/ |
01895 855 000 | youtube.com/user/GallifordTry |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Galliford Try plc published this content on 06 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 March 2024 07:32:05 UTC.