Source: Sharecast
Updating investors ahead of the annual general meeting, the FTSE 250 construction group said the "strong" operational performance it had seen in the year to June had continued into the first half of the current year.
In particular, it flagged that trading was currently "slightly ahead" of board expectations, supported by "encouraging" contract wins. Recent deals include being appointed to the £2.34bn public buildings construction and infrastructure framework by the LHC Procurement Group, which Galliford also announced on Thursday.
It continued: "Our chosen sectors of environment, highways and building are all major national investment priorities and as a UK-focused contractor with diversified positions across these sectors, and a strong reputation for quality, we are well placed to support that investment.
"The board remains confident of meeting its objectives for the current financial year.
"The potential of our markets, our resilient balance sheet and our disciplined capital allocation model gives us confidence in the outlook for the group."
Consensus is currently for full-year adjusted pre-tax profits of £64.2m on revenues of £2.01bn, according to company-compiled analyst forecasts. Last year Galliford posted adjusted pre-tax profits of £55.9m on revenues of £1.93bn.
As at 1145 GMT, the stock - which has put on 37% so far this year - was down nearly 2% at 700p.
See latest RNS on Sharecast