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Galliford Try issues profit warning on news its construction arm will shrink

By BFN News | 07:27 AM | Tuesday 16 April, 2019


Galliford Try has launched a strategic review of its construction arm with a view to reducing the size of the business and focusing on markets and sectors with sustainable prospects for profitability and growth. The housebuilder says the review will result in reduced profitability for the current year as it reassess positions in legacy and some current contracts, plus some settlements and costs of the restructure. Galliford Try also flagged that estimated final costs on the Queensferry Crossing joint venture had gone up. The changes will results in full year pre-tax profit coming in £30m to £40m below current market forecasts. Story provided by StockMarketWire.com

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