In a statement, Galliford Try Holdings plc said the group is expecting to “return to profitability in the first half of this financial year and a resumption of dividend with the interim results”.

The group is “performing well, in line with the Board’s expectations, with an excellent first half year average month end cash position towards the upper end of previous guidance of £125m-£145m”.

Its appointment to the £60 million Winchburgh Schools project in West Lothian for West Lothian Council was named as one of a number of “recent significant and strategic contract wins”.

It added: “The group’s strategy is focused on robust risk management, sustainable growth, careful cash management and margin progression. The group is well capitalised with no debt, no pension liability, a portfolio of PPP assets, and a strong order book and is making good progress on its strategic priorities and the financial targets set out in September 2020, including expected reinstatement of dividend.”