GRAHAM has said that activity in Scotland is a ‘major’ contributor to its ‘strong and sustainable’ financial growth after the contractor’s 2023 accounts revealed a 15.3% increase in revenue.
The firm generated revenue of £1.094 billion, with cash in the bank increasing to £177.1 million – representing a 28% rise from 2022 – and profit before tax was recorded at £15.1 million.
GRAHAM said its Building North region was a ‘major’ contributor to the company’s financial results with highlights including:
- Completion of Glasgow’s Buchanan Wharf development including the handover of Building 6 – the new Student Loans Company HQ – and completion of extensive public realm at the Barclays Campus, and the new Solasta Riverside build-to-rent (BTR) complex.
- Construction of £181m of BTR developments in Glasgow and Edinburgh for developer, PLATFORM_, and a £62m BTR development at Candleriggs Square on behalf of Drum Property Group.
- Input into NHS Frameworks, which will deliver innovative change across Scotland’s healthcare estates.
- Completion of the £33m Fife Orthopaedics facility on behalf of NHS Fife which became the first National Treatment Centre in Scotland.
- Completion of the £12.5m RIAS award-winning Laidlaw Music Centre at the University of St Andrews, and the £47m Meadowbank Sports Centre in Edinburgh.
GRAHAM added that the ‘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 inflationary pressures facing the wider economy, the company explained. However, it continues to mitigate these risks through a ‘strategic approach to partnership working’, particularly with a growing number of repeat clients. This model, GRAHAM said, promotes collaboration, quality delivery and cost certainty throughout the supply chain.
Andrew Bill, GRAHAM Group CEO, 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.”
CRAHAM revealed its track record for ‘delivering lasting impact’ is evidenced in the £379.9m Social Return on Investment (SROI) for communities across the UK and Ireland.
The company has continued to invest in the skills and development of its staff. Investors in People has reaccredited the group as a Platinum standard organisation while the National Centre for Diversity awarded the business with the Investors in Diversity standard due to the inclusive and fair culture within the workplace.
Most recently, GRAHAM was named Digital Contractor of The Year at the Digital Construction Awards in recognition of its commitment to innovation and tech transformation.
Andrew Bill added, “At GRAHAM, we work to a set of values that we call ‘the GRAHAM Way’. This is about our unique culture and a commitment to fairness, inclusion and respect. Our people are the real force behind these latest figures, and I would like to thank them, our supply chain and subcontractors for their ongoing commitment. They continue to innovate, drive industry change through the use of modern methods of construction, and strive for excellence, which, collectively, is the platform for our strong performance.”
