GRAHAM has surpassed the £1bn turnover milestone for the second consecutive year, with revenue increasing to £1.125bn
The headline figure from recently published accounts (year ending 31st March 2024) shows a 2.8% increase on the Group’s 2023 results (£1.04bn).
GRAHAM, a leading national contractor and developer, recorded a profit before tax of £14.8m.
The company maintained its robust balance sheet position, with cash at the bank and in hand totalling £151m.
Strong performance amid industry challenges
This “strong performance” comes despite inflationary pressures and significant economic and geopolitical headwinds.
GRAHAM delivered major projects in each of its core market sectors, including building, civil engineering, interior fit-out, facilities management, and development management.
Across the wider industry, higher borrowing costs and evolving regulatory environments have slowed the start dates for major construction projects and impacted contractor profitability.
To offset these challenges, GRAHAM has focused on a sustainable growth model built on strategic supply chain management and selective work winning.
This approach has resulted in a record pipeline of secured work exceeding £2bn.
Success achieved despite economic uncertainty
Andrew Bill, GRAHAM Group Chief Executive Officer, commented on the latest accounts: “The latest published accounts for the Group are pleasing and underline the strong performance of each of our divisions within our core market sectors. We prioritise robust governance and commercial management, which are the backbone of our sustainable growth model.
“Significantly, the continued success of the Group has been achieved despite global economic uncertainty and inflationary pressures. The market has been challenging, but our consistent focus on quality delivery and commitment to securing repeat business through the development of collaborative client relationships have allowed us to grow sustainably over the past year.
“Looking forward, we have developed a significant pipeline of opportunity to allow us to positively approach the next 12 months, and beyond, with energy and optimism.”
Breadth of delivery
The scale, scope, and variety of GRAHAM’s national portfolio have been central to its continued strong financial performance.
Projects such as Candleriggs, a 346-unit Build to Rent development in Glasgow (£81.5m), improvement works to the M25 Junction 28 in Essex (£154m), the interior fit-out of BT’s new 76,000 sq. ft. offices in Dundee, and the restoration of the historic Cathays Grade II Listed Library for Cardiff Council highlight the breadth of its expertise.
Notable projects
At Lord’s Cricket Ground, the company has been named as the preferred bidder for a redevelopment project encompassing the Tavern and Allen Stands.
Additionally, GRAHAM recently secured planning consent for a transformative regeneration project at Meadowbank in Edinburgh.
This project will develop over 700 homes, of which more than 35% will be affordable, creating one of the city’s greenest neighbourhoods.
CEO’s tribute to workforce
Andrew Bill attributed the continued success of the business to the concerted efforts of the 2,500-strong workforce. He stated:
“The ongoing growth of GRAHAM is due to the hard work and dedication of our people, both on-site and in central support services. Individually and collectively, they embody ‘The GRAHAM Way,’ which is the unique culture that sets us apart.
“On a daily basis, they continue to build lasting relationships with clients, innovate in our approach to delivery, and strive for excellence. This, as a package, is the bedrock behind the strong financial figures published within these latest accounts.”
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