Galliford Try’s Share Price Dropped 3.36% Despite 3 Contract Wins

The Galliford Try Holdings PLC (LON: GFRD) share price dropped 3.36% despite winning three new contracts. The prominent UK construction company has announced the acquisition of three significant infrastructure projects with a combined value of £98 million. These contracts underscore Galliford Try's expertise and continued commitment to enhancing the UK's infrastructure landscape.

The first of these pivotal projects involves Galliford Try's Environment division, entrusted with a £33 million initiative to construct a new pipeline in South London. This project falls under the jurisdiction of Thames Water's Riverside Flow Monitoring Zone. 

The primary objective of this undertaking is to cater to the expected surge in demand within the area. This strategic infrastructure development is critical, as it aims to ensure the sustainable management of water resources, meeting the needs of the growing population while mitigating the risks associated with water scarcity.

Moving on to the second project, Galliford Try's Environment business has secured a £31 million contract, which involves laying down a new 9-kilometre clean water pipeline. This vital pipeline will connect between the Netley Water Treatment Works, located east of Guildford in Surrey, and the primary reservoir network situated west. 

The third contract marks a significant venture for Galliford Try's Highways business, involving a £34 million project to revamp the A629 route leading into central Halifax. This ambitious project includes pedestrianising key access points and devising new routes to the town's railway station, effectively diverting traffic from the town centre.

Bill Hocking, Chief Executive of Galliford Try, commented: “We are delighted to have been appointed to these three contracts, which represent key markets within our Sustainable Growth Strategy. We look forward to working with Thames Water and Calderdale Council to provide their local communities with the high-quality public infrastructure that will serve them for years to come.”

The Galliford Try share price. 

The Galliford Try share price dropped 3.36% to trade at 231.2p from Thursday’s closing price of 239.0p.