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Galliford Try has reported a revenue of £1.77bn ($2.33bn) for the financial year of 2024 (FY24), a jump of 27.33% from £1.39bn a year ago.
This growth is attributed to the company's organic expansion and the delivery of work that faced delays due to inflation and public sector procurement challenges in 2022.
The company's Infrastructure division, which includes the Highways and Environment segment, saw a revenue increase of 38.8% to £819.8m from £590.8m in the year-ago period.
The Public-Private Partnerships Investments segment also experienced a revenue jump of 153.4%, reaching £14.7m compared to £5.8m in the prior year.
The company's operating profit for the year ending 30 June 2024 rose to £24.7m from £5.6m in FY23.
Operating profit before amortisation improved to £29.6m in FY24 from £21.9m in the previous year.
Pre-exceptional earnings per share (EPS) were reported at 27.9p as against 18.9p last year.
Meanwhile, the company's Building division secured contracts and framework positions valued at more than £989m, down slightly from £999m in FY23.
The Building division also received various contracts during the period, the company said.
This included securing a position on the £835m National Health Service North of England Commercial Procurement Collaborative Specialist Estates Engineering & Maintenance Services Framework for its Asset Intelligence, Facilities Management, and Oak Specialist Services businesses.
Galliford Try CEO Bill Hocking said: “Galliford Try has delivered another year of sequential, robust revenue and margin growth. Our strong progress, well ahead of plan, provided us with the confidence to reset our ambitions over the mid-term, and to announce our updated Sustainable Growth targets to 2030 at the Capital Markets Event held in May 2024.
“We are confident in the outlook for the current financial year, with 92% of FY25 revenue already secured, and are encouraged by our recent framework and sector wins which align with our strategy to 2030 and underpin the opportunity to deliver further strong performance and sustainable long-term value for all stakeholders.”
Last month, Galliford Try's Building North East and Yorkshire business completed a project, delivering the new £12.3m Energy Central Learning Hub in Blyth.
"Galliford Try’s revenue surges more than 27% in FY24 " was originally created and published by World Construction Network, a GlobalData owned brand.
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