GRAHAM has reported “strong and sustainable” financial growth in its latest published accounts for the financial year (up to 31 March 2022) as revenue reached £948m.
This marks a £141.9m (17.6%) increase in the contractor’s turnover from the 2021 reporting period (2021 - £808.1m).
In the same period, profit before tax was recorded at £19m – a 54% increase from 2021 (2021 - £12.33m) – while the corresponding profit before tax margin rose by half a percent to 2% (2021 – 1.5%).
Cash at bank and in hand also increased to £127m (2021 - £118.9m). This figure has enabled GRAHAM to further improve its supplier payment statistics and to continue to invest in the training and development of its 2,200+ staff cohort.
Each business unit, comprising of building, civil engineering, interior fit-out, facilities management and investment projects, remained profitable throughout this latest financial year.
Looking forward, GRAHAM has also secured a record work pipeline of £1.9bn, expanding its portfolio of major projects across the UK and Ireland, and earning selection to a number of leading national frameworks.
The strong financial performance has been achieved despite the very many challenges faced by the construction industry as a whole, not least the reorientation of market conditions resulting from the Covid-19 pandemic and rising inflationary pressures.
Andrew Bill, GRAHAM group chief executive officer, emphasised the disciplined approach to work winning, the continued cultivation of long-term client relationships and the concerted efforts of the workforce as instrumental to the group’s performance.
He said: “GRAHAM is pleased with these latest published accounts, which demonstrate our commitment to strong and sustainable financial growth in the face of considerable economic challenges for the construction industry and wider society.
“We have adopted a pragmatic, sensible and selective approach to winning work, coupled with a focus on risk management. Real collaboration with our clients and partners, based on trust and transparency, has also been central to realising our group objectives.
“It goes without saying that the immense efforts of our staff, supply chain and subcontractors, who continue to innovate and strive for excellence, is the platform that underpins our continued high performance.”