Privately owned contractor Graham Group has hailed a strong 2021 order book, following robust financial results in 2019/20.
The firm hit revenue of £853.3m in the year to 31 March 2020, while pre-tax profit jumped 38% to £11.3m over the period. All Graham divisions – building, civil engineering, interior fit-out, facilities management, and investment projects – were profitable.
Its pipeline of work stands at £1.8bn and the firm also recorded a £10m improvement in cash at bank and hand in 2019/20, taking the total to £72.9m.
Graham group executive chairman Michael Graham 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.”
Upcoming projects include the construction of the Baird Family Hospital and the Anchor Centre (£161m) 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 indoor sports facilities.
The £26.5m Poynton Relief Road highways scheme, and the interior fit-out of The Hut Group’s new headquarters in Manchester (£16.5m), are also underway.
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.”
