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GRAHAM records strong financial performance for 2020

GRAHAM records strong financial performance for 2020 image

GRAHAM has reported growth in revenue to £853.3m in its latest published accounts for the financial year (up to 31st March 2020).

The headline figure represents a 16% increase on the privately-owned contractor’s previous performance for the same period in 2019 (£735m).

The company has also posted an £11.3m profit before tax, which is a 38% rise on 2019 (£8.2m), and has recorded a £10m improvement in cash at bank and hand (£72.9m).

Each GRAHAM division, categorised into building, civil engineering, interior fit-out, facilities management, and investment projects, has remained profitable throughout this accounting cycle.

GRAHAM Group Executive Chairman, Michael Graham, praised the collective efforts of the 2,000-strong workforce for the strong financial performance. He 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.”

Pipeline

Moving into 2021, GRAHAM has a record order book and a healthy £1.8bn pipeline of opportunity.

Notable 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 further high-profile projects under way, while the GRAHAM FM team continues to provide a range of essential services to leading clients such as Severn Trent Water.

Commenting on the GRAHAM pipeline, 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.”