May 21, 2019 / 7:24 AM / 2 months ago

BUZZ-Galliford: Shares climb to top of FTSE midcap

** Shares of British builder Galliford Try +11.7%, top FTSE midcap index

** Co says strategic review launched last month by its new top boss would see its construction business concentrate on its core strengths in building, water and highways, leading to up to 350 job losses

** “Restructuring construction to accelerate margin improvement,” says brokerage Liberum

** Liberum: “Galliford’s trading update should be taken well because there are no further incremental contract issues, and because part of the exceptional cost identified in April has a payback through future cost reduction” (Reporting by Justin George Varghese in Bengaluru)

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