GRAHAM has reported another year of strong financial and operational performance, delivering significant growth in revenue, profitability and cash generation, while securing a series of major project awards and framework appointments that strengthen its position across its core markets.
For the year ended 31 March 2026, Group revenue increased to £1.23 billion, up 16% from £1.06 billion in the previous year with Profit before tax increasing by 42% to £35.8 million. The Group also strengthened its cash position, ending the year with £260.7 million of cash and cash equivalents and increasing net assets to £113.7 million.
The results reflect strong performances across GRAHAM’s Building, Civil Engineering, Interior Fit-Out, Facilities Management and Investment businesses, underpinned by disciplined project selection, operational excellence and continued investment in long-term client relationships.
Financial Highlights
- Revenue increased 16% to £1.23 billion
- Gross profit increased to £88.5 million
- Profit before tax increased 42% to £35.8 million
- Cash and cash equivalents increased to £260.7 million
- Net assets increased to £113.7 million
- Strong balance sheet maintained with low external debt and significant liquid
Major Project Wins and Strategic Progress
During the year, GRAHAM continued to secure landmark projects and strategic framework appointments across education, healthcare, infrastructure, residential development and facilities management.
Highlights included the award of the £286 million redevelopment of Cambridge Halls for UNITE Students and Manchester Metropolitan University, delivering more than 2,300 student bedrooms and targeting BREEAM “Excellent” standards.
The Group further strengthened its position within the education sector through appointment to the Department for Education’s £15 billion CF25 Construction Framework, while also securing significant projects for the University of East London, Loughborough University and several major school redevelopment programmes.
In healthcare, GRAHAM was appointed to the Hospital 2.0 Alliance Framework, supporting the delivery of the UK’s next generation of healthcare infrastructure under the New Hospital Programme.
Civil Engineering continued to perform strongly, securing the £71 million Central Docks Infrastructure Scheme at Liverpool Waters, while also being appointed to National Highways’ £968 million Legacy Concrete Roads Reconstruction Framework, reinforcing the Group’s growing reputation in strategic infrastructure delivery.
The business also expanded its presence in the Republic of Ireland through the award of the BusConnects Core Bus Corridor Scheme in Dublin, establishing a permanent GRAHAM presence in the capital to support future growth opportunities.
Within Interior Fit-Out, the business delivered more than £100 million of projects during the year and secured major commissions with new and existing clients, including Nike and HSBC.
GRAHAM Asset Management continued its growth trajectory through major partnerships with the Royal Borough of Kensington and Chelsea and London Metropolitan University, alongside further expansion within healthcare, local authority and utilities markets.
The Group also achieved a significant development milestone with planning approval secured for its 446-bed purpose-built student accommodation scheme at Hydepark Street, Glasgow.
Jonathan Hall, Chief Operating Officer, said:
These results demonstrate the strength and resilience of our business and the breadth of opportunities available across our chosen markets.
The quality of projects and frameworks secured during the year provides excellent visibility and gives us confidence in the future.
Leadership Transition
As part of a planned succession process, Andrew Bill will retire as Chief Executive Officer on 31 August 2026 following an outstanding career with the business spanning more than four decades.
The Board has appointed Courtney McCormick as Chief Executive Officer with effect from 1 September 2026.
Courtney joined GRAHAM 18 years ago and has served as Group Chief Financial Officer for the last 12 years, playing a central role in the Group’s growth, financial strength and strategic development.
Michael Graham, Chairman, added:
Andrew has made an exceptional contribution to GRAHAM and leaves the business in a position of considerable strength. On behalf of the Board, I would like to thank him for his dedication, leadership and commitment over many years.
We are delighted to appoint Courtney as Chief Executive Officer. He has been instrumental in shaping the business we are today and brings extensive leadership, commercial and strategic experience to the role.
Courtney McCormick, Chief Financial Officer, said:
These results reflect the outstanding commitment of our people and the trust our clients place in us every day. We have built strong momentum across all our business units, secured an excellent portfolio of future opportunities and maintained the financial strength needed to support sustainable growth.
GRAHAM enters the next chapter of its journey from a position of real strength and I look forward to working with colleagues across the Group to build on this success for our clients, people and communities.
Outlook
With a strong balance sheet, substantial liquidity, a growing order book and a diverse portfolio of opportunities across the UK and Ireland, GRAHAM remains well positioned to deliver sustainable long-term growth and create lasting impact across the sectors and communities it serves.