Galliford Try Share Discussion Threads

[speedsgh] 23/6/2017 09:06

Galliford/Lagan jv wins £135m RAF Marham hangar -

The MoD’s estate procurement arm has picked a Galliford Try/Lagan joint venture to build a new hangar and upgrade runways to support new fast jets at RAF Marham.

Under a £135m contract the joint venture will deliver a new aircraft hangar capable of housing 12 of the F-35B Lightning jet aircraft.

The F-35B Lightning aircraft is an advanced, 5th generation jet that the Royal Air Force and the Royal Navy will fly from Queen Elizabeth Class aircraft carriers or from operating bases such as RAF Marham.

The project also includes resurfacing two existing runways and taxiways while the station remains operational.

Vertical landing pads will also be added to RAF Marham, accommodating the F-35B’s ability to land vertically, a capability previously covered by the Harrier jets.

The major investment in RAF Marham is the last of seven projects worth £250m undertaken to ready the station for the arrival of the aircraft in 2018.

[speedsgh] 20/6/2017 09:42

DR_SMITH - Would agree. Both construction & housebuilding appear to be out of favour at present. Additional uncertainty re legacy contracts means GFRD struggling at present. However, ought to be a decent LTBH even if the dividend were to be held at the current level.

[dr_smith] 20/6/2017 09:16

Thank you for posting Speedsgh.
I see it says "was originally pencilled in for 2019." so allays my immediate concern that staff/resources may have been re-shuffled needlessly in readiness, so hopefully there is no cost to the company. You never know, following review there could be more work, so in my view, I am taking it as news but not detrimental to company/sector in any way - though I feel sector (non house building/construction) has been down recently with the election.

[speedsgh] 20/6/2017 08:45

Delay hits £38m Galliford office job after council rethink -

A “landmark” office scheme for Northumberland County Council due to be built by Galliford Try has been put on hold, Construction News understands.

Galliford Try was appointed to the £32m project in December last year, beating Bowmer & Kirkland and McLaughlin & Harvey to the contract to deliver the five-storey Grade A office in Ashington town centre.

The contractor hosted a ground-breaking ceremony at the Portland Park site in February this year, but it is understood work has now halted on the site after a change in council leadership following local elections in May.

The local council, now led by the Conservatives, has said it will undertake a review of all its development projects, which are being led by the council’s development arm Arch.

In a statement, Arch said: “All of Arch’s current onsite developments, other than the planned construction of the new county council headquarters on the Portland Park site in Ashington, will proceed as planned...

[bluemango] 13/6/2017 12:04

Standard Life Investments - new declarable holding in Galliford Try, holding notice issued yesterday. Just over 5% = 4.193 million shares.

[deb81e] 09/6/2017 14:59

I don't always get it right but this morning purchase at 11.42 was good, and hopefully the bottom

[fizzypop] 08/6/2017 15:21

Do we now have the start of the long awaited breakout?
Unfortunately I don't think we have sufficient volume to confirm momentum yet.

[speedsgh] 06/6/2017 09:23

A little bit more unwelcome news from GFRD...

Construction company ‘deeply saddened’ by worker’s death on Wellingborough site -

Galliford Try has spoken of its sorrow after one of its workers died on a Wellingborough construction site. On Friday police confirmed a man died after an incident at the Stanton Cross site in Irthlingborough Road at about 1.45pm on Wednesday, May 24. Galliford Try, contractor at the site, said its staff’s thoughts are with the victim’s family. A spokesman for the construction company said: “Galliford Try is deeply saddened by the tragic passing of one of our colleagues following the incident at Stanton Cross. “Our thoughts are with the deceased’s family and friends at this extremely difficult time. “We continue to assist the relevant authorities with the ongoing investigation. “No further comment will be made at this time.” A spokesman for the Health and Safety Executive (HSE) confirmed they are still investigating with Northamptonshire Police. The victim has not yet been formally named by police.

[spoole5] 05/6/2017 19:24

I think once this particular contract is completed and the cost overrun can be quantified then the price will stable, until then there is the possibility of further costs arising.

[bigbertie] 05/6/2017 16:24

Good luck Careful. I have bought the dips on this until now. These fixed price contract over-runs have unnerved me!

[careful] 05/6/2017 13:25

the risk here is house prices going forward.
with reduced immigration demand will fall.
if the economy struggles post Brexit it could be a double whammy.
things could turn sour.


hopefully not, bought in here today.
the fall from the recent high of £18 seems overdone.
A 30% crash is unjustified.

[careful] 05/6/2017 10:57

i am buying today.
probably the ones you are selling.
takes two to make a market.

[bigbertie] 05/6/2017 10:47

It's small consolation that the other partners have a bigger liability.
Gfrd has been my biggest earner since 2008 but I have now sold most of them.
I think I may sell the rump too......it's rather sad seeing a former star under a cloud - time for new pastures?? No advice intended....I'm just musing. Good luck to all whether holders or sellers. bb

[speedsgh] 05/6/2017 08:29

Queensferry Crossing builders set to lose £100 million in penalties for finishing project late -

CONTRACTORS building the new Queensferry Crossing are set to lose more than £100 million on the iconic project.

The Sunday Post understands an opening date for the crossing – which has already been delayed twice – will be announced later this month.

But because the £1.3 bn project was built under a fixed-price contract the four firms responsible for the project are on the hook for massive losses.

Infrastructure Secretary Keith Brown has revealed the scheme will cost in the region of £1 million for every day it goes over its mid-June contractual competition date.

This means the firms face losses of at least £70m if the project ends up going to the end of the mid-July to August range.

However, losses revealed by the junior partner of the scheme, Galliford Try, suggest overall losses could top more than £100m...

... However, last month construction group Galliford Try revealed it had set aside nearly £80m for overruns relating to its role in building the Queensferry Crossing and the new bypass around Aberdeen.

The firm refused to break down the split between the two schemes but Galliford, through its Morrison Construction, was only a junior partner in bridge project with a 16% stake.

The other partners – Hochtief from Germany, American Bridge from the USA and Dragados from Spain – all have a 28% stake and The Sunday Post understands they will be liable for more of the overruns than Morrison...

[puffintickler] 31/5/2017 18:10

I'm out for now. Shame as this was my biggest holding and a reliable winner and divi payer except for market blips since I first bought in at 50p (pre 1 for 10 consolidation).

It is a well run business, I just feel market headwinds will be too strong in the short/medium term.

[fizzypop] 31/5/2017 16:37

Could we now be seeing the beginning of a new uptrend with 1233p the low?

[bigbertie] 17/5/2017 10:02

Willie99 thanks for that. I like to think I follow my investments closely, but I've dozed off a bit on this one! Let's hope this Drew Smith acquisition has been carefully researched. Good luck. BB

[speedsgh] 17/5/2017 08:25

Roads project retendered following Galliford's exit -

Wigan Council has retendered a £14m road scheme that was initially awarded to Galliford Try in June 2015.

[speedsgh] 16/5/2017 12:43

Galliford Try acquires Drew Smith -

Galliford Try plc confirms that its Galliford Try Partnerships business has completed the acquisition of the Drew Smith group, a leading contracting and mixed-tenure developer in the south of England.

The purchase comes after the recent publication of Galliford Try Partnerships’ new strategy, targeting growth in key regions around the country where it has yet to establish a presence and can increase the supply of new homes...

Galliford Try tipped for phase two of £200m Stephenson Quarter -

Galliford Try is in line to deliver the next phase of Newcastle’s £200m Stephenson Quarter development, Construction News understands...

[willie99] 16/5/2017 12:18

the other one was the AWPR - Aberdeen Western Peripheral Route. Its a bit disingenuous of the company saying they are legacy, which suggests they are many, many years old. These contracts were tendered in 2014/15, by this management team, no-one else. So they should not imply it was not done on their watch.

[bigbertie] 16/5/2017 10:30

There were provisions for 2 legacy contracts - I assume the Forth Bridge was one but what is the other one? Also does "legacy" mean that the contract was inherited from an acquired company?

[spudders] 11/5/2017 14:09

Just like the old days, positive news and share price moves down :(

[speedsgh] 11/5/2017 08:43

Galliford Try tops list of contract wins for April...

Galliford Try takes first league win in five years -

[speedsgh] 09/5/2017 12:10

Galliford Try wins £90m St Modwen scheme -

St Modwen has appointed Galliford Try to build the latest phase of its residential development at the former RAF Uxbridge base, the 1,300-home St. Andrew’s Park.

The £90m apartment development includes the construction of a further 249 homes spread over four blocks and will offer a range of ownerships and tenures. A new road junction will be built next to the site, with further landscaping of the communal areas also taking place...

[mayers] 05/5/2017 13:39

Thanks for that spoole5.