GRAHAM has surpassed the £1 billion turnover milestone for the second year in a row after growing revenue by 2.8% £1.125 billion.
Figures for the year ending 31st March 2024 also revealed pre-tax profit of £14.8 million and cash at bank and in hand of £151 million.
The contractor hailed the ‘strong performance’ in the face of inflationary pressures and significant economic and geopolitical headwinds.
Across the wider industry, GRAHAM said higher borrowing costs and the evolving regulatory and legislative environments have led to a slow down in planned start dates for major construction projects, while impacting upon profitability. To offset many of these challenges, the group has focussed on a ‘sustainable growth model’ built on the platform of ‘strategic supply chain management and selective work winning’.
This approach has resulted in a record pipeline of secured work in excess of £2 billion.
Andrew Bill, GRAHAM group CEO, said, “The latest published accounts for the Group are pleasing and underline the strong performance of each 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.”
GRAHAM added that the ‘scale, scope and variety’ of the firm’s national portfolio have been central to its financial performance. Projects such as Candleriggs, a 346-unit Build to Rent development in Glasgow, improvement works to the M25 Junction 28 in Essex, the interior fit-out of BT’s new offices in Dundee, and the restoration of the historic Cathays Grade II Listed Library for Cardiff Council underline the breadth of expertise.
At Lord’s Cricket Ground, the company has also been named as the preferred bidder for an iconic redevelopment project encompassing the Tavern and Allen Stands, while GRAHAM recently secured planning consent for a regeneration project at Meadowbank in Edinburgh that will see the delivery of over 700 homes – over 35% of which will be affordable – across a five-hectare site that will create one of the city’s ‘greenest neighbourhoods’.
The group reported a 19% absolute reduction in Scope 1 and 2 carbon emissions and the achievement of a 98% rate for the diversion of construction waste from landfill.
GRAHAM has also continued to invest in the skills and development of its people and supply chain. The business became the first UK organisation to achieve Investors in People (IIP) “We invest in Wellbeing Platinum” status this year. Additionally, IIP reaccredited GRAHAM with “We invest in People Platinum” for the third time. Most recently, the firm earned the “Investor in Diversity Gold” award and secured the 29th position among the Top 100 Equality, Diversity, and Inclusion companies in the UK.
Andrew Bill added, “The ongoing growth of GRAHAM is due to the hard work and dedication of our people, both on site and those 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, which, as a package, is the bedrock behind the strong financial figures published within these latest accounts.”
