Market Reaction - Galliford Try
- Mickey Perry
- Feb 12, 2024
- 1 min read
Publish Date: 12 February 2024
Time Period: 8-year duration of the framework
- Secured positions on the £3.2 billion CHIC Newbuild Development Framework for affordable homes.
- Won places in both the £2.5 billion Lot 2 for new build projects over £10 million and the £650 million Lot 3 for regeneration projects.
- The company plans to leverage this opportunity to expand its presence in the affordable homes sector, aligning with its Sustainable Growth Strategy.
Chart 5 Days
The company has risen 5.88% today possibly on the back of these updates.
Chart 2 Years
The company has been on a decent upward trend since October 2022 rising approximately 60% over this time!
Galliford Try’s share price has moved significantly compared to their peers today, which averaged around 0.8% rises.
I am surprised by the significant movement following this announcement; the information provided doesn't seem to justify such a notable increase in share prices. The size of the contract are unknown & Galliford continues to have tight margins. They require substantial project uptake to make a meaningful impact on their bottom line.
Company Stance: Negative
Sector Position: Negative
PE: 13.1
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