I find myself in that awkward situation of being unsure what to do about Galliford Try (LON:GFRD) rights offer. I have always liked the company and have been a long holder in a modest sort of way. The entire sector has taken something of a beating recently, worsened by Carrillion's disgraceful behaviour and coloured no doubt by doubts as to the wisdom and final outcome of Brexit.

On the other hand, we keep being told we have a housing crisis and we also know that one way most governments handle recessions is to flush money into infrastructure, even with borrowed money. If a slump after this time next year puts the final nail into the present administration's coffin and we have a change of government, what then?

Galliford Try (LON:GFRD) is being transparent that it seeks to finance the completion of the Aberdeen project they have been left with, behind schedule and above budget, thanks to Carrillion. This seems both open and sensible to me. The company has several sectors, including Linden Homes that would be the beneficiary of relaxation of planning restrictions and central pressure to build affordable homes at a higher rate. Do we have the workforce to cope with that nowadays, or are we about to lose a proportion migrating back to Poland?

The initial reaction to the availability of the Galliford Try (LON:GFRN) rights on the market seems to suggest a lot of brisk selling, along with further falls in the main share price. Today, we see what looks like a reversal of that trend but will it last, I wonder?

I would be glad to hear what others think about the sector generally and this offer in particular.

Finish reading with a 14 day trial

or Unlock with your email

Already have an account?
Login here