U.K. builder Galliford Try (GALLF)(GLLRY) released its final results this week. As this is the first set since the business demerged its housebuilding operation in January and set a new strategic direction, they provide an interesting first clue to how the strategy is going. I remain upbeat on the company.
The Results Were Underwhelming
It is hard to get too excited about the financial results, to be frank. The company made a significant loss.
Source: company final results
COVID-19 and associated project delays, contract settlements and legal costs were the main explanation for the decline