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Galliford Try confident of turnaround after revenue 'significantly' falls in final quarter on Covid

By BFN News | 10:12 AM | Wednesday 15 July, 2020


UK construction group Galliford Try said it was confident performance would improve after coronavirus-led disruptions 'significantly reduced' revenue in the final quarter of the financial year and led to a 'material reduction' in margin. Divisional operating margins for year ended June 30, were expected to show a loss of about 5%. But the company said it had entered the new financial year with an order book of £3.2bn, and with 90% of the new financial year's planned revenue secured. This gives management confidence in the future as we look to increase operating margins, capitalise on the actions taken to reduce costs and maintain our disciplined approach to contract selection,' the company said. The company expected to announce its results for the full year in September 2020. At 10:08am: (LON:GFRD) Galliford Try Holdings PLC share price was +7.11p at 108.15p Story provided by StockMarketWire.com

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