Contractor says it can鈥檛 provide guidance on annual figures for this year or next
Galliford Try has become the latest contractor to confirm it has begun furloughing staff and will not pay shareholders a previously announced dividend.
In an announcement to the City this morning, the firm said it was working to manage its working capital and preserve its liquidity through the disruption caused by the covid-19 pandemic.
It said: 鈥淚n the prevailing circumstances the board considers it prudent to cancel payment of the interim dividend of 1.0p per share announced on 12 March 2020. The board will at the appropriate time consider paying the interim dividend with the final dividend.
鈥淭he group is committed to fully supporting all staff and has implemented furloughing of personnel where appropriate.鈥�
The contractor did not say how many people will eventually be furloughed.
It also said the scale and duration of disruption to its activities and the impact on the supply chain was not yet clear.
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The announcement added: 鈥淔or this reason, it is too early to quantify the potential impact of covid-19 on revenue and operating profit, a