Come this Thursday morning we will see by just how much this group has beaten market expectations for its trading year to end-June.
This company, which is a leading UK construction group, operates as Galliford Try and Morrison Construction, and it carries out building and infrastructure projects with clients in the public, private and regulated sectors across the UK.
Over the last three years it has been building further on its strong operational and financial performance in that period.
Its £3.8bn Order Book gives its Management certain confidence as it goes forward, with some 92% of its revenues secured for the current year.
At the time of the Trading Update on Thursday 11th July, the range of analyst forecasts for revenue and pre-exceptional profit before tax for the year to end-June, was £1.435bn to £1.643bn and £26.7m to £29.2m respectively.
Analysts Guy Hewett and Max Hayes at Cavendish Capital Markets now have estimates out for the 2024 year to show £1,645.9m (£1,393.7m) revenues, adjusted pre-tax profits of £33.2m (£26.8m), earnings of 23.4p (21.1p) and paying a dividend of 11.3p (10.5p) per share.
For the current year to end-June 2025, they foresee £1,672.6m sales, £34.9m profits, 24.1p earnings and a dividend of 11.8p per share.
That massive Order Book helps to frame the estimates for 2026, for £1,700.5m turnover, £38.5m profits, 26.7p earnings and a 13.1p dividend.
The brokers have a Price Objective of 417p a share against the current 303p, at which level the group is valued at £304m.
As long as we don’t have any hassles from the collapse of ISG hitting this group, I see its shares continuing to be steady at the current levels, they were just 212p this time last year, with the hope that good corporate news could help to push the shares higher again.
(Profile 02.02.22 @178p set a Target Price of 220p*)
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