Galliford Try

Galliford Try
Name	Galliford Try plc
Type	Public limited company
Founded	1 January 2000
Headquarters	Uxbridge, England
Industry	Construction and housebuilding
Revenue	£1.7 billion (2021)
Key people	Ian Tyler (Chair), Steve Yong (CEO)
Products	Construction, civil engineering, residential development

Galliford Try is a British construction and housebuilding group formed by the merger of Galliford plc and Try Group in 2000. The group historically combined expertise in building, civil engineering, regeneration and residential development across the United Kingdom, with notable contracts for public infrastructure, commercial property and housing. It has been active in high-profile projects involving partnerships with government bodies, local authorities and private developers, and has undergone strategic restructuring and disposals in response to market cycles and financial performance.

History

The antecedents of the company include Galliford plc, with roots in the mid-20th century, and Try Group, an Edinburgh-based firm established by the Try brothers. The merger in 2000 created a group with national reach and expanded capabilities in both construction and housebuilding. Over subsequent decades the company won contracts from bodies such as Network Rail, Highways England, Transport for London and international clients, and expanded its housebuilding presence through brands that competed alongside Persimmon plc, Barratt Developments, Taylor Wimpey and Berkeley Group Holdings. During the 2010s the group acquired several regional contractors and engaged in Public-Private Partnership schemes with organizations including NHS trusts and municipal councils like Westminster City Council. Strategic shifts included the 2020 disposal of its housing arm to Ballymore Group and the 2020s refocus on core construction and civil engineering as it navigated market pressures affecting peers such as Kier Group and Interserve.

Operations and Services

Galliford Try operated two principal divisions: a construction and infrastructure contracting division delivering projects in sectors served by Ministry of Defence facilities, Department for Education schools, healthcare estates for NHS England and transport infrastructure for Highways England and Network Rail; and a housebuilding division that developed residential schemes in competition with Bellway and Redrow plc. Services spanned design-and-build, regeneration, project management and specialist civil engineering for clients including Crossrail delivery partners, municipal development agencies and private investors like Hammerson and Land Securities Group. The group also provided brownfield remediation, flood defence works commissioned by entities such as the Environment Agency, and energy-related construction for utilities like National Grid.

Major Projects and Contracts

Galliford Try delivered numerous landmark projects and joint ventures. Key projects included regeneration and mixed-use schemes in partnership with local authorities and developers such as Canary Wharf Group and British Land plc, major transport upgrades for Network Rail and Transport for London, and defence estate works for the Ministry of Defence. The company worked on education projects for trusts affiliated with Academies Enterprise Trust and health facilities for trusts including Guy's and St Thomas' NHS Foundation Trust. Infrastructure undertakings comprised highways and bridge works contracted by Highways England and flood resilience projects commissioned by the Environment Agency. It also participated in framework agreements with national contractors and investment vehicles like Equitix and pension-backed infrastructure funds.

Financial Performance

The group's financial trajectory mirrored cycles affecting the wider sector, with revenue and profitability influenced by contract margins, project write-downs and the residential market. Financial statements periodically reported revenue in the region of over £1 billion, but the company experienced episodic impairments and restructuring charges similar to movements seen at Kier Group and Interserve. Balance-sheet management included capital raises, disposals and refinancing to manage indebtedness and working capital, and interactions with major lenders such as Barclays and Lloyds Banking Group. Market commentary compared its performance to peers like Morgan Sindall Group and Laing O'Rourke as subcontracting exposures, bid pipelines and public-sector spending shaped outlooks.

Corporate Governance and Ownership

As a public company listed on the London Stock Exchange, the company adhered to regulatory reporting and governance frameworks overseen by the Financial Conduct Authority and committees including audit and remuneration boards. Senior leadership included executive directors and non-executive directors with experience drawn from construction and infrastructure sectors; board appointments and chairmanships were reported alongside comparisons to leadership at Balfour Beatty and Skanska UK. Institutional shareholders comprised asset managers and pension funds also invested in construction equities, such as Aviva Investors, BlackRock and Legal & General Investment Management. Corporate actions, including mergers, disposals and capital restructuring, were subject to shareholder approval and scrutiny by investor groups and analysts covering FTSE constituents.

Controversies and Legal Issues

Like many major contractors, the company faced disputes over contract performance, variations and delay claims with clients and subcontractors, leading to legal negotiations and occasional arbitration reminiscent of cases involving Carillion and Balfour Beatty. High-profile issues included project cost overruns and claims that prompted impairments and creditor engagement, alongside regulatory scrutiny of procurement practices by public bodies such as Transport for London and local planning authorities. The group managed litigation relating to payment disputes and construction defects, sometimes settling with insurers and claimants, while industry-wide debates over retentions, late payment and insolvency protections involved stakeholders including Construction Leadership Council and trade bodies like the Federation of Master Builders.

Category:Construction companies of the United Kingdom