In case investors were in any doubt as to which part of the UK construction market looks most attractive, infrastructure and civil engineering firm Galliford Try (GFRD) laid that to rest this morning with another increase to full-year revenue, margin and earnings guidance.

Ahead of the release of its results for the financial year to June, the company said thanks to its water contracts and ‘solid’ highways delivery, revenue and pre-tax profit would be above the top end of the latest estimates, which sit at £1.885 billion and £41.6 million, respectively.

The raised outlook, the second from the firm after it lifted forecasts at the beginning of March, sent the shares to a new five-year high of 441p on the day (9 July).

Chief executive Bill Hocking said the group’s first-half performance gave it the confidence to ‘improve expectations’, while its recent major framework wins and the size of its order book provided ‘clear visibility and security of future workloads well beyond the current financial year’.

The firm also said stronger trading meant it would deliver ‘further margin progression towards our 2030 sustainable margin target of 4.0% and previously communicated margin target of 3.0% in 2026’. 

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