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In its latest published accounts for the financial year (up to 31st March 2023), GRAHAM has reported a “strong performance” which has seen the national contractor and developer surpass the £1 billion turnover milestone.
Following the successful delivery of major projects across its core market sectors (building, civil engineering, interior fit-out, facilities management and development management) the company generated revenue of £1.094 billion. The figure is a 15.3 per cent increase on the Group’s 2022 results (£948.3 million in 2022).
Cash at bank and in hand also increased to £177.1 million – a 28 per cent rise (£127.1 million in 2022) – while profit before tax was recorded at a healthy £15.1 million.
GRAHAM says this “strong balance sheet position” has enabled the business to further improve its supply chain management and supplier payment statistics and to continue to invest in the training and development of its 2,200+ staff cohort.
Profitability has been impacted by well-publicised inflationary pressures facing the wider economy. However, GRAHAM says it continues to mitigate these risks through a strategic approach to partnership working, particularly with a growing number of repeat clients. This model promotes collaboration, quality delivery and cost certainty throughout the supply chain.
The delivery of high-profile projects, including the transformative Buchanan Wharf mixed-use scheme (Glasgow), the University of York’s 1480-student accommodation residences (York), the Poynton Relief Road (Cheshire), Imperial College London’s new School of Public Health (London) and a nationwide modernisation programme for Marks & Spencer (National), underline the scale, scope and quality of GRAHAM’s national portfolio.
Looking ahead, the Group adds it is in a strong position with a record pipeline of £2 billion.
Commenting on the latest figures, Andrew Bill, GRAHAM Group Chief Executive Officer, said: “We are very pleased with these latest published accounts, which demonstrate a strong performance in our core markets. This has been achieved despite the complexity of the current inflationary environment and other notable external factors. Strong governance and commercial management are at the heart of our approach to sustainable growth. We focus on quality delivery and take pride in our record for securing repeat business and the development of collaborative client relationships. The adoption of a pragmatic and selective approach to work winning, built on a platform of risk management, allows us to positively approach the rest of 2023, and beyond. With a significant pipeline of opportunity, which is strong in both volume and quality, we look forward to the future with continued optimism.”
Complementing the balance sheet, GRAHAM’s track record for “delivering lasting impact” is evidenced in the £379.9 million Social Return on Investment (SROI) it has delivered for communities across the UK and Ireland.
As a responsible, sustainable business, the Group’s drive to net zero also ensured a 13 per cent reduction in scope 1 and 2 emissions.
