Both profit before tax, up 33% at £15.6m, and margin, up 0.2ppts to 2.5%, have seen notable rises.

The group also has excellent visibility over future revenue with 98% and 83% of projected FY24 and FY25 revenue secured.

Furthermore, building business is also making progress in private rented and affordable housing, having recently been appointed to the £3.2bn Communities & Housing Investment Consortium (CHIC) Newbuild Development Framework for affordable homes.

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The business’s cash position remains strong at £150m average month-end cash, and a high-quality order book, predominantly in long-term frameworks, provides visibility and security of future workloads and continued growth prospects well beyond the group’s current financial year. 

Bill Hocking, CEO at Galliford Try, commented: “I am very pleased with the group’s performance in the first half of the financial year.

“There is strong momentum in the business and our continued excellent performance is a reflection of our disciplined strategy, committed people and long-established relationships with our supply chain and clients.”