Galliford Try had been expected to published its financial results this week for the year ended 30th June 2024 but today warned of a delay.
It said that the company’s auditor, BDO LLP, had “requested more time to complete its audit quality control standard procedures”.
It is not yet clear how long this could take: “The group will provide an update with a revised results date in due course,” Galliford Try said.
Company audits have been an especially sensitive topic in the construction industry since the collapse of Carillion in 2018. KPMG was fine £21m for its slack auditing work on Carillion. PwC was subsequently fined more than £5m in 2022 for failings in its audits of the accounts of Galliford Try and Kier.
Galliford Try suggested that there were unlikely to be any nasty surprises when this year’s accounts are eventually published “with revenue and pre-exceptional profit before tax expected to be above the upper end of analyst forecasts”.
It added: “The board is confident in the outlook for the current financial year and is encouraged by the momentum in framework and sector wins, which align with the strategy to 2030 outlined in May 2024, and underpins the opportunity to deliver further strong performances and sustainable long-term value for all stakeholders.”
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