Galliford Try has revealed that its order book stands at £3.2bn following the £1.1bn sale of its Linden Homes and partnerships and regeneration arms to Bovis Homes.
In a trading update, the company said it was a “well-capitalised construction business” with a cash balance of £225m as of 31 December 2019. Average month-end cash balances for the second half of the financial year are expected to be in excess of £100m.
It added that its underlying construction business is performing well and is in line with expectations for the year ending 30 June 2020. “As previously highlighted, the group expects performance to be weighted to the second half of the financial year due to both market uncertainty and the settlement of certain claims in the first half of the year,” it said.
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