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London Build

23 May 2024

Galliford Try expands into new markets under fresh strategy

Galliford Try expands into new markets under fresh strategy
Credit: Galliford Try.

Galliford Try has outlined its vision for business growth over the next five years and the markets it will invest in to see it through.  

As part of its updated Sustainable Growth Strategy, the contractor said it intends to re-enter the Affordable Homes market after exiting four years ago.  

Chief executive Bill Hocking said the move will help the group deliver a 4 per cent margin increase across the business and exceed revenue of £2.2 billion by 2030, up from £1.4 billion today. 

Other non-core markets presenting “higher margin opportunities” for the group include capital maintenance and asset optimisation in water, retrofit, the Private Rented Sector (PRS), and Galliford Try’s Specialist Services businesses. 

Building and Infrastructure will continue to be core markets for the business, growing pipelines in key sectors such as Environment, Defence, Education, Custodial and Highways. 

“Our updated strategy to 2030, which we announce today, reflects the Group’s strong performance since 2021 and is designed to continue the Group’s disciplined growth, focusing on higher margin opportunities, as well as provide long-term sustainable value for our stakeholders,” said Hocking. 

“The Group’s success and future strategy is founded on commercial discipline and robust risk management and the strong momentum in the business is a reflection of committed people and long-established relationships with our supply chain and clients.” 

The announcement follows the recent appointment of David Lowery to the position of divisional managing director for infrastructure, following a 21 per cent jump in revenue in the second half of last year. 

Source: Construction Wave

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