NI construction giant reports turnover of more than £1bn for second year in a row

The Hillsborough-based group said revenue for the year to March 31 2024 had hit £1.125bn, a 2.8% jump on the year before.

The contractor and developer, which carries out work across the UK, also recorded profit before tax of £14.8m, down slightly from £15.1m the year earlier.

Speaking ahead of the publication of its accounts at Companies House, Graham said it had also maintained its “robust” balance sheet position over the year with cash at bank and in hand of £151m.

It said its “strong” performance for the year was achieved among inflationary pressures and “significant economic and geopolitical headwinds”. It had delivered big projects in its core market sectors of building, civil engineering, interior fit-out, facilities management and development management.

But the company said that higher borrowing costs and regulatory and legislative changes had led to delays in start dates for big projects, which was impacting on profitability for contractors.

To offset challenges, the group had focused on sustainable growth through strategic supply chain management and a selective approach to winning work. That had given it a pipeline of secured work of over £2bn.

Andrew Bill, Graham Group chief executive, 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 said it had secured a wide range of jobs, including Candleriggs, a build to rent development in Glasgow, the fit-out of BT’s offices in Dundee and restored a historic listed library for Cardiff Council.

And it had also been named preferred bidder for a redevelopment of the Tavern and Allen Stands at the Lord’s Cricket Ground.

Mr Bill said the success of the firm was down to its workforce of over 2,500 people.

Attributing the continued success of the business to the concerted efforts of the 2,500-strong workforce, Mr Bill added.

“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.”

News Catch Up: Monday 1st July 2024