With revenues increasing by over 27% from the previous year, the housebuilder has recorded an increase in pre-exceptional profits before tax.

These profits have grown from £23.4m in 2023 to £32.7m over the past year.

As such, the housebuilder’s cash position has improved. The company now has £227m in cash, with average month end cash for the year of £154.9m which is up from the £134.7m in the previous year.

Looking ahead, Galliford Try has a £3.8bn order book with 92% of next year’s revenue already secured.

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This improvement in financial position has led Galliford Try to boost its dividends. Including an interim dividend of 4p, Galliford Try shareholders will receive a total dividend of 15.5p.

This is up 47% from the 7.5p paid out in 2023.

Based on management’s bullish outlook, Galliford Try’s management team are proceeding with a share buyback programme of up to £10m.

“We have delivered a strong performance across all operations delivering increased revenue and profit, ahead of analysts’ previous expectations,” said Bill Hocking, CEO of Galliford Try.

“We will continue doing what we said we would do, consistently delivering strong performance - supported by our exceptional teams, a strong balance sheet, solid order book and excellent supply chain and client relationships.”