Over 40 years’ heritage
185,800 clients worldwide
Over 15,000 markets

Galliford Try set for record year

Galliford Try will report its full-year profits on Tuesday 16 September. The consensus is for revenue of £1.7 billion and a net income of £74.45 million.

Homes being constructed
Source: Bloomberg

Galliford Try is trading at £12.40 and the share price is up 6.4% since the construction company reported a record first half in February, where its first-half profits increased by 18% to £38.1 million. The company also revealed an interim dividend of 15p per share, up 25% on the year. House building provided much of the driving force behind the record six months; Galliford-owned Linden Homes revealed a 13.5% increase in its operating margin.

The company announced a record land bank of 13,500 plots. The entire land bank for 2015 has been secured, and the majority the land bank required for 2016 has been locked in.

Mark Carney’s comments at the annual TUC conference benefited construction companies as he essentially ruled out at interest rate rise until next year.

Analysts are bullish on its stock, with three banks giving it a buy rating while another three rated it a hold.

The 200-day moving average of £12.07 is acting as support. If the company’s full-year results prove to be a record year then the share price could target £13.24.

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.