Contractor Graham reports rise in profits and revenue

Notable projects for the firm include the construction of the Baird Family Hospital and the ANCHOR Centre in Aberdeen

GRAHAM has reported a 16% rise in turnover to £853.3 million in its accounts for the financial year ending March 31, 2020.

The contractor has also posted an £11.3 million pre-tax profit, which is a 38% improvement on the £8.2 million recorded in 2019. The company also revealed a rise of £10 million in cash at bank and hand to £72.9 million.

Each Graham division has remained profitable throughout this accounting cycle.

Group executive chairman, Michael Graham, said, “It has been a particularly challenging year given the unprecedented uncertainty arising from Covid-19 and Brexit. Market conditions are also extremely competitive. Against this backdrop, it has been particularly satisfying to record a rise in revenue to £853.3m and a profit before tax figure of £11.3m in our latest accounts.

“This is only possible because of the hard work and dedication of our teams. So too, our divisional strength, sectoral expertise and regional presence provide a well-balanced service offering. Undoubtedly, difficult challenges remain on the horizon, but this solid financial platform positions us well to look forward with confidence.”

Graham added that is has a ‘record’ order book and a £1.8 billion pipeline of opportunity. Notable projects include the construction of the Baird Family Hospital and the ANCHOR Centre in Aberdeen.

Michael Graham added, “We remain focused on quality projects rather than chasing revenue. Our strategic approach to work winning has accounted for an exceptionally strong pipeline. This leaves us well placed for 2021 with strong levels of secured work.”