{"id":79307,"date":"2020-07-15T09:00:04","date_gmt":"2020-07-15T08:00:04","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=79307"},"modified":"2020-07-15T09:00:04","modified_gmt":"2020-07-15T08:00:04","slug":"galliford-try-post-covid","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/galliford-try-post-covid\/79307\/","title":{"rendered":"Galliford Try remains optimistic for post-Covid recovery"},"content":{"rendered":"

Galliford Try<\/a> has today (15 July) provided an update on trading for the year ended 30 June, with a gross loss of 5% it remains optimistic about the future<\/h2>\n

The majority of the Galliford Try\u2019s construction sites in England<\/a> continued operations under strict safety guidelines throughout the Covid-19 lockdown.<\/p>\n

All sites in Scotland were closed in accordance with Scottish Government requirements. Work was allowed to resume in Scotland from late June.<\/p>\n

Galliford Try used Government\u2019s Job Retention Scheme<\/a> during the period and the majority of affected employees have now returned to work. When responding to the pandemic, temporary salary reductions of between 15% and 25% for most senior employees were made.<\/p>\n

Along with the cost of implementing new operating procedures and lengthened site programmes, this led to a reduction in gross margin in the financial year to June 2020, with divisional operating margins expected to show a loss of 5%.<\/p>\n

Margins expecting to improve<\/h3>\n

Bill Hocking, chief executive, said: \u201cHealth and safety remain our top priority. All our sites have implemented new operating procedures, in accordance with Government and industry guidance, to ensure the safety of all employees, subcontractors and others attending our sites.<\/p>\n

\u201cEarly in the pandemic, we established a Covid-19 Working Group, to establish clear new working practices and share good practice across the Group.\u201d<\/p>\n

\u201cProductivity levels on our sites have gradually increased since the beginning of the lockdown, and we start the new financial year with productivity close to normal and operating margins expecting to improve in line with our target.<\/p>\n

\u201cThroughout the lockdown we have been encouraged by the pipeline of new opportunities across our chosen sectors in the public, regulated and private markets together with a number of significant contract wins.\u201d<\/p>\n

Contract wins<\/h3>\n