Andrew Duxbury - Finance Director - Galliford Try Holdings PLC joined Steve Darling from Proactive to share insights into the construction company’s strategic vision and its focus on consistent, predictable, and profitable growth across key sectors in the UK, including education, healthcare, water, highways, and housing.
Duxbury discussed the company’s sustainable growth strategy, which was outlined in 2021 with targets extending to 2030. This strategy emphasizes expanding large core markets and exploring higher-margin adjacent markets, while maintaining a foundation of risk awareness and discipline. As he announced his departure from the company, Duxbury expressed confidence in its robust state.
He detailed ambitious financial goals for 2030, aiming for revenues exceeding £2.2 billion and an operating margin of 4%, effectively tripling profits and dividends compared to FY 2023. Key growth drivers identified include the UK's aging social and economic infrastructure, demographic changes, and the pressing need for decarbonisation.
A significant aspect of Galliford Try’s future growth involves leveraging its expertise in affordable housing. Previously limited by a 2020 restriction, the company now aims to deliver over 1,200 housing units annually by 2030, generating around £250 million in revenue. Margin improvements are expected to come from careful contract selectivity, operational enhancements through digital investments, and the adoption of modern construction methods.
Duxbury highlighted that the potential impact of the upcoming election on the company’s projects is anticipated to be minimal. Essential infrastructure investments are necessary regardless of the government in power, ensuring continuity in the company’s strategic projects.
In conclusion, Galliford Try Holdings PLC is well-positioned to achieve its ambitious growth targets by 2030. The company’s focus on sustainable growth, coupled with its strategic investments in key sectors and innovative construction methods, promises to deliver substantial value to shareholders while addressing critical infrastructure needs in the UK.
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