Feb 21 Galliford Try Plc
* Interim dividend 32 penceper share
* Strong first half performance with profit before tax up
19% to £63.0 million, eps up 19% to 61.9p and interim dividend
up 23% to 32.0p reflecting confidence in full year outlook.
* Net debt of £113.8 million (h1 2016: £95.7 million), in
line with expectation.
* Strategy to 2021 targeting sustainable growth and strong
returns across all three businesses.
* Targets include 60% growth in profit before tax to fy
2021, a five year cagr 3 on dividend of at least 5% and a return
on net assets 2 in fy 2021 of at least 25%.
* Revenue of £742.0 million (h1 2016: £738.6 million), with
cash balance of £110.8 million (h1 2016: £154.7 million)
reflecting delayed cash flows on some legacy projects.
* 2021 financial targets include revenue of £1.8 billion,
operating margin of at least 2% and net cash of £200 million.
* I am pleased that we are able to announce an interim
dividend of 32 pence per share, in line with our sustainable and
* Over last 16 months we have focused on enhancing strengths
of each business, to build a solid platform for further
disciplined and profitable expansion.
* We continue to see robust demand and pricing in
* Profit before tax £63.0m up 19pct
* Revenue 1 £1,308m h1 up 3 percent
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