Date 04 Mar 2021
Galliford Try, Morrison Construction's parent group, has published its results for the half year period ending 31 December 2020, reporting the business has moved back into profit.
The Group has announced to shareholders that it will reinstate the dividend having posted a profit of £4.1m for the six-month period, compared to a £5.6m loss for the same period last year.
The business has been operating at a margin of 1.6%, moving toward its medium-target of 2.5%, while the order book has risen slightly to £3.3bn, up from £3.2bn in December 2019.
Month-end cash has performed above expectations, with average month-end cash standing at £158m in comparison to £141m over the previous six months. The Group will repay the sums claimed under the Government Job Retention Scheme during this financial year.
Bill Hocking, Chief Executive of Galliford Try, commented: “We are delighted to present these pleasing results.
“We have made significant progress, despite the continued challenges of the pandemic, throughout which our people have responded excellently and we have maintained the highest standards of health, safety and wellbeing. With our continued focus on risk management and rigorous project selection, we are confident that this performance will be reflected in our full year results later this year.”