GRAHAM has achieved a turnover exceeding £1 billion for the second consecutive year, with revenue rising to £1.125 billion.

The headline figure from recently published accounts (year ending 31st March 2024) is a 2.8% increase on the Group’s 2023 results (£1,093.7bn). The prominent national contractor and developer also reported a profit before tax of £14.8 million, while maintaining a strong balance sheet with £151 million in cash reserves.

This 'strong performance' in the face of well-documented inflationary pressures and significant economic and geopolitical headwinds followed the successful delivery of major projects in each of its core market sectors (building, civil engineering, interior fit-out, facilities management and development management).

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In the broader industry landscape, increased borrowing expenses and evolving regulatory frameworks have caused a delay in scheduled start dates for major construction projects, impacting contractor profitability. To navigate these challenges, the Group has prioritised a sustainable growth strategy centred around strategic supply chain management and selective project acquisition. This proactive approach has resulted in a record pipeline of secured work exceeding £2 billion.

Andrew Bill, GRAHAM Group Chief Executive Officer, said: "The latest published accounts for the Group are pleasing and underline the strong performance of each of 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."