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Wed May 29 2024

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Graham shows pre-Covid profit and revenue growth

5 Nov 20 Northern Irish construction group John Graham Holdings has posted financial results (mostly pre-Covid) showing profit and turnover both up.

For the year to 31st March 2020 Graham made a pre-tax profit of £11.3m, which is a 38% rise on 2019 (£8.2m). Revenue was up 16% to £853.3m (2019: £735m).

By the end of March 2020 cash at bank and in hand had risen to £72.9m, up £10m on 12 months previously.

Each of Graham’s operating divisions – building, civil engineering, interior fit-out, facilities management and investment projects – stayed in profit for the year.

Michael Graham, executive chairman, of the family business, 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.”

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Moving into 2021, Graham boasts a record order book and a £1.8bn pipeline of opportunity.

Projects include the construction of the Baird Family Hospital and the £161m Anchor Centre in Aberdeen, the continued development of student accommodation at the University of York (£140m), and the design and build of phase one of Eton College’s new sports hall.

The £26.5m Poynton relief road and the £16.5m interior fit-out of The Hut Group’s new headquarters in Manchester are also under way, while the Graham FM team continues to provide services to clients including Severn Trent Water.

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.”

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